Should we stay or should we go now?

VICKY SHAW ex­am­ines house move trends across the coun­try

Gloucestershire Echo - - PROPERTY NEWS -

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.”

Many of us will re­main in the same home for al­most half our lives

TV prop­erty shows of­ten talk about look­ing for a ‘for­ever home’ but it seems that may de­pend as much on where we live as on our per­sonal choices

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