Should we stay or should we go now?
VICKY SHAW examines house move trends across the country
ANALYSIS reveals that home owners across Britain will stay put in a property for nearly 21 years on average. And, with high moving costs such as stamp duty, London has some of the least frequent movers, the research from Zoopla found. Homeowners in Kensington and Chelsea stay put for on average 35-and-a-half years typically – that’s nearly 15 years longer than the average across Britain at 20.8 years. Oxford is also somewhere where people are particularly likely to stay put for lengthy periods, moving just over every 31 years, on average. At the other end of the spectrum, homeowners in Dartford and south Derbyshire move every 15 years on average, while Salford home owners move just over every 15 years typically. Zoopla looked at Land Registry and Registers of Scotland figures to find average property turnover levels. Looking across Britain’s nations and regions, homeowners in the East Midlands are the most frequent movers, changing properties on average once every 17.9 years, followed by those in Scotland who tend to move once every 18.7 years.
Meanwhile, those living in London tend to move every 26.2 years while home owners in the South East tend to stay for 25.4 years on average. Laura Howard, spokeswoman for Zoopla, says: “House prices have risen exponentially in the last two decades and many people are unwilling or unable to take on the cost of the ‘next rung up.’ “The cost of moving itself, is also a likely factor, especially in the most expensive pockets of the country. “Average property values in Kensington and Chelsea for example, now stand at more than £2 million according to Zoopla data, meaning the stamp duty bill alone would cost £153,750. “So it’s perhaps unsurprising that the London borough has the lowest turnover between moves of 35.5 years. “On the other hand, however, there will always be scenarios where moving home is either essential or a dream that has to be realised.”