In this article, we examine the art of house moving in the UK and discuss how often the average person in Britain will move in their lifetime
Moving to a new house is no easy task: it requires a great deal of organising, as well as a strategic mind to put all the necessary pieces into place. Funds need to be accumulated, family members need to be happy and of course, the housing market needs to be abiding. Still, it can take a while for the stars to all align.
That said, a variety of buying methods beyond the traditional are becoming more popular to make the process easier and more accessible for all. Take the auction house, for example. More people are choosing to go down the quick and competitive sale route, hoping to create a lucrative bidding war on their property or catch or a bargain buy.
Thanks to this, moving to a new house is not as laborious as it once was. Here, we look at how often the average person in Britain will move in their lifetime.
How often do Brits move?
Recent research indicates that, on average, Britons move once every 23 years, which is a statistic that will no doubt be quite surprising to many. Of course, others won’t be so easily shocked. The UK housing market hasn’t had public favour in a long time, and on top of issues like Brexit, job losses and a struggling economy, it’s no surprise that people are choosing to stay put.
In a time of such poignant political and economic uncertainty, the one place Britons are finding their dose of certainty is within the confines of their own homes. It’s safe, it’s familiar, and frankly moving to a new house at this stage would be something of a gamble. Consequently, many people would rather stay comfortable for now.
The one place Britons are finding their dose of certainty is within the confines of their own homes.
Does it vary per region?
Of course, some areas are more enticing and appealing to move to than others. Savills findings were published by the BBC, highlighting the county’s where people move the most. They were; Wandsworth, Basingstoke and Deane, Norwich, Rushmoor, Lambeth, Corby, Swindon, Aylesbury Vale, South Norfolk and Bracknell Forest.
This is most likely to be due to affordability. People are happier to exchange properties within these areas because they fit within their budget and the availability is there. There’s more breathing room and so people feel more willing to move and to try and get a profit on their prior home, if the opportunity arises.
At what age do people move most?
Often, people first move when they go off to university or generally move out from their parents’ homes to find their independence. After that, the next period of life when people move most tends to be when they’re starting a family. Obviously, they need the extra space and the extra rooms, so it’s only natural.
If promotions are offered and job transfers are needed, then these factors play a part too. Consequently, the age at which people move most tends to be in their 30s and 40s, when careers are booming, and families are growing. Anything after is generally a settling down period, and anything before that is likely to be young adults renting with groups of friends. Of course, some parents also downsize when their kids move out.
Today people aren’t moving out as much when they have kids. Instead, they’re extending their current properties, adding extensions wherever possible, as this seems to be a much safer option than moving again.
This piece was researched by Allsop.