If you are the sort of person who finds statistics interesting, and you love the property market, this article is going to right up your street! A study of house moving statistics for 2019 was carried out by reallymoving, and some of the findings may catch you surprise or reinforce what you expected to happen.
The busiest day for moving home in 2019 was Friday the 30th of August. The next busiest day was Friday 28th of June and the top three was rounded out by Friday 27th of September. It is no surprise to learn Friday is the most popular day of the week to move, and movers were more likely to move at the end of the month.
Concerning the distance moved, the median distance was nine miles, while 40% of movers moved to a new home within a five-mile radius of their previous property. The average cost of removals services was £420.
First-time buyers were the largest group of property buyers in 2019
The largest group of buyers in the 2019 property market was first-time buyers. This group accounted for 55.7% of all property purchases throughout the year. More than 20% utilised a Government Help To Buy scheme to step onto the property ladder. The average deposit paid by first-time buyers over the year was £28,800. This represents 16% of the average property purchase price, which was £180,000.
The majority of first-time buyers in the UK didn’t have to pay Stamp Duty Land Tax on their purchase, but repeat movers paid an average of £4,625 when they moved home.
The largest group of international movers headed to the USA
When home-movers left the country, the most popular destination was the United States of America, with 19.4% of international moves heading there. 9.9% of international movers went to Spain, 7% went to France, 6.3% moved to Australia, and 5.4% moved to Germany. It will be interesting to review the same sort of figures in 2020 and see if there is a marked reduction in international movers migrating to Europe.
Rob Houghton is the CEO of reallymoving, and he said; “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.”
Rob continued by saying; “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.”
If you plan on moving home in 2019, we are here to help. If you plan on selling your Bridgend property, we can arrange a property valuation for your home. If you would like to buy a home, we can help you find your ideal property. No matter what move you wish to make in 2020, contact Hunters Bridgend, and we will be more than happy to assist you.