How Many Times Does the Average Brit Move House?
Do You Know How Many Times the Average Brit Moves?
Moving house can be a big occasion. Some move every couple of years, due to work commitments or schools, while others stay in their homes for their entire lifetime. Moving is both exciting and daunting at the same time. Packing up your life into boxes can put some people off, with the idea of changing home and surroundings being too scary. However, moving means a new home to put your stamp on, make memories in, and a new area to explore.
According to research from Zoopla, the average Brit moves home every 23 years. Over the course of their lives, that means that people will move on average around 8 times. 23 years seems like a long time, but time can fly when you’re living somewhere you love. We love our role here at Attik and the small part we get to play in helping people find a new home. If you’re looking to move, and need to sell you property, contact us today – we’d love to help.
Though 23 years is a long time to stay in one property, it hasn’t always been this way. Back in the 1980’s, people moved around once every eight years. However, following the financial crash, and taking into consideration inflation and wage stagnation, people are now staying put in their homes for longer. In the words of Location, Location, Location presenter Phil Spencer, people are now more likely to “love it than list it”. Staying put in their homes because they can either not afford to move, or know they will not get the asking price for their house, so decide to revamp or refurbish as opposed to moving.
As you would expect, those who live in more upmarket areas with higher asking prices for their houses tend to move less. This is owing to the fact that expensive houses are often selected by their owners because they tick every box, whereas those who buy cheaper houses, or are buying their first house do so with the intention of climbing the housing ladder. Initially they may buy a cheap 2 bedroom terrace, but as they earn more or their family grows, they will outgrow the property and have to move to something bigger. Similarly, when people get older, they may have to downsize, or find a property that is more accessible for people with mobility issues.
One of the reasons that some more expensive areas have a low percentage of people moving house is that houses are in low supply. For example, Oxford is home to the second lest frequent movers. This is both due to scarcity of houses and lack of affordable properties on the housing market. Areas with a smaller amount of time between moves could imply a good amount of property on the market that are affordable and available.
The housing market now looks as though it is picking up again. More houses are becoming available – will this mean people are more likely to move more frequently over the next few years? Time will tell. Until then, if you’re unhappy with your home and are looking to move, why not give us a call.