10 things to know about moving – that you don’t already know
1. The busiest day of the year for moving home last year was Friday 30 August, followed by Friday 28 June and Friday 27 September. Friday was the most popular day to move throughout the year and movers tended to favour the last week of the month.
2. Those buying and selling a home typically paid £1,154 for conveyancing, excluding disbursements and expenses such as Land Registry fees. First-time buyers paid £677 on average.
3. The average distance moved last year was nine miles, with 40 per cent moving within a five-mile radius of their previous home. On average, they paid £420 for removal services
4. London received the highest volume of homemovers in 2019, accounting for 12.1 per cent. The second most popular destination was Birmingham at 3.2 per cent, followed by Manchester at 2.2 per cent and Reading in Berkshire at 2 per cent.
5. First-time buyers were the driving forward in the property market in 2019, accounting for 55.7 per cent of all home purchases throughout the year. More than a fifth used a Government scheme to help them buy their first home, such as Shared Ownership at 146 per cent and Help to Buy at 7.3 per cent.
6. The average deposit paid by first-time buyers in 2019 was £28,800 – 16 per cent of their average purchase price of £180,000. While most of the data was sourced from forms filled out by Reallymoving customers, the data about the average deposit paid by first-time buyers was taken from Halifax and then applied to the average price paid by Reallymoving’s first-time buyers who compiled a conveyancing quote.
7. Movers who bought and sold at the same time, sold their homes for an average price of £237,000 and bought for an average price of £292,500.
8. While first-time buyers largely escaped paying stamp duty, those moving up the property ladder typically paid £4,625.
9. The research also analysed its data on homemovers in the European Union, with numbers dropping by 68 per cent compared to the 12 months leading up to the EU referendum in June 2016.
10. The most popular destination for international movers from Britain was the United States at 19.4 per cent, followed by Spain at 9.9. per cent, France at 7 per cent, Australia at 6.3 per cent and Germany at 5.4 per cent.
Information Sourced from The Mail Online