Average home buyer moves just nine miles

Fri 26 Feb 2016

A variety of factors are likely to affect your next move and while some people are keen to stay as close as possible to their current address, others have ambitions to make a fresh start in an entirely new location.

New research has found half of people who moved home in 2015 headed to a new home less than nine miles from their existing property.

While the average distance of a move last year stood at 52 miles, down from 55 miles in 2014, there is no doubt that a short move is favoured by many buyers.

The study, conducted by removals company Reallymoving.com, also discovered more than 40 per cent of people who moved home in 2015 were first-time buyers. The average price paid by first-time buyers was £202,000, just three-quarters of the average cost of a new home for other buyers.

Rob Houghton, chief executive of the removals website, said a rise in first-time buyers was good news for the market, despite a number of areas of the UK continuing to prove too expensive for this group.

“We’re also encouraged to see the average distance of home movers continue to drop. Our belief is that as the jobs market improves, people are not having to move as far to find work,” he explained.

For more information on selling your property and making your dream move, please contact your local Leaders branch.