While there are some industry experts who believe that demand for property will fall in 2020, people will always move homes.
Even in challenging times, there are reasons for people looking to move home. At Hunters Camberwell, we work closely with buyers and vendors. We learn the reasons as to why people are moving right now.
Also, as part of a national network, we know the reasons why people are moving all across England and the United Kingdom.
We also stay in touch with the latest studies and research. We appreciate why people are moving home, and this ensures we offer the best standard of service for people looking to move property.
We know the past year has been challenging, and sadly, relationship changes are a big factor in why people are looking to move.
This has been a challenging time for many people
Yes Homebuyers conducted a survey which outlines the reasons why people are moving home:
- Divorce or end of a relationship cited by 23% of respondents
- Relocating for personal reasons said by 21% of respondents
- A desire to have more space was said by 19% of respondents
- 11% of respondents said they were relocating for work reasons
- The same study also suggests searches for divorce guidance have increased by 25% due to COVID-19, and enquiries with divorce specialists have risen by 122%.
Other findings include:
57% of people say leaving their home was more upsetting than ending a relationship
Only 25% of movers have been forced to leave a property they would have preferred to stay in
The pandemic has also driven change in the housing market
It is also important to recognise that dealing with the pandemic has led many people to decide it is best to move home. Some of the other reasons for a property move include:
- 11% of people said they were moving for financial reasons
- 6% of respondents said they were downsizing to a more manageable property
- 2% of people were moving after getting married
Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented: “There are a number of key life events that cause us to move home and unfortunately, divorce is one of them. We’ve seen a number of reports around a spike in divorce proceedings and breakups due to the additional stress placed on relationships during lockdown. So it’s no surprise that it ranks as the driving factor for home moves at present with Covid causing restrictions in other areas of life such as marriage and relocating for work. For some, a breakup will mean a double whammy of leaving their partner and a home they love, but luckily the number of us forced to leave a property we would prefer to stay in remains rather low. However, it says a lot about us as a nation of bricks and mortar lovers when having to leave a home is more upsetting than leaving the person we shared it with.”
If you are looking for guidance or information regarding the housing market, please get in touch with Hunters Camberwell. As a local estate agent who has the support of a national network, we are ideally placed to provide you with all the help and guidance you need to make an informed decision, so please contact us today.