Reallymoving reveals ten statistics telling story of UK home movers in last year
Home move comparison site Reallymoving has revealed ten statistics that tell the story of UK home movers during the last year, including when people moved, how far they went, the most popular destinations and of course, what it all cost.
- The busiest day of the year for moving home was Friday 30th August, followed by Friday 28th June and Friday 27th Friday was the most popular day to move throughout the year and movers tended to favour the last week of the month.
- Those buying and selling a home typically paid £1,154 for conveyancing, excluding disbursements and expenses such as Land Registry fees. First time buyers meanwhile paid £677 on average.
- The median distance moved by UK movers in 2019 was 9 miles, while most (40%) moved within a 5-mile radius of their previous home. On average they paid £420 for removals services.
- London received the highest volume of home movers in 2019, accounting for 12.1%. The second most popular destination was Birmingham (3.2%), followed by Manchester (2.2%) and Reading, Berkshire (2%).
- First-Time Buyers were the driving force in the property market in 2019, accounting for 55.7% of all home purchases throughout the year. Over a fifth used a Government scheme to help them buy their first home, such as Shared Ownership (14.6%) and Help to Buy (7.3%).
- The average deposit paid by First-Time Buyers in 2019 was £28,800 – 16%  of their average purchase price of £180,000.
- Repeat movers (those buying and selling at the same time) sold their homes for an average price of £237,000 and bought for an average price of £292,500.
- While First-Time Buyers across the UK largely escaped paying Stamp Duty Land Tax on their purchases, repeat movers typically paid £4,625 on completion.
- The UK failed to tempt home movers from the European Union in 2019. The share of EU home movers choosing the UK as their destination dropped by over two thirds (68%) compared to the twelve months leading up to the EU Referendum in June 2016.
- The most popular destination for international movers from the UK was the United States (19.4%), followed by Spain (9.9%), France (7%), Australia (6.3%) and Germany (5.4%).
CEO Rob Houghton says:
“First time buyers were the driving force in the market during 2019, encouraged by cheap loans, soft house prices and plenty of Government support in the shape of Shared Ownership and Help to Buy which remain extremely popular.
“In terms of international moves, the UK fell sharply out of favour with people moving from the EU, as evidenced by a sharp decline in the proportion of EU residents making inward moves to the UK.
“Most home moves remained local with a remarkable 40% taking place within five miles of existing homes, suggesting that people were more motivated by extra space and more desirable properties than by major moves for new jobs or lifestyle changes.”
Deposit data sourced from Halifax and applied to reallymoving’s average FTB purchase price. (https://www.which.co.uk/money/mortgages-and-property/mortgages/mortgages-and-deposits-the-basics/how-much-deposit-do-you-need-for-a-mortgage-acs1c3t6f9r0#headline_4)
Kindly shared by Reallymoving.com