Yahoo Finance How often do Brits move house in their lifetime?
Recent studies show that on average British homeowners will move house every 23 years, which is half as often as they did before the credit crunch.
Moving house can be a stressful task. From extra fees to house insurance, removal van costs and additional deposits, the process of moving house isn't always easy.
New research by estate agents Savills has revealed that the most frequent house movers are those in Wandsworth, Basingstoke, Norwich, Rushmoor and Swindon, moving on average every 10 years. Homeowners who are less likely to move often are those situated in Pembrokeshire, Harrow, Isle of Anglesey, Sefton, Newham and Redbridge.
People used to move house roughly four times after their first purchase, but this new research shows us that it's now only two. With the uncertainty of Brexit and house prices rising sharply, people are choosing to extend and build onto their home instead of move.
'Those not trading up are the forgotten people of the housing market. We've concentrated on first-time buyers. They get the concessions and all the focus has been on getting people onto the housing ladder,' Lucian Cook, head of residential research at Savills told the BBC.
The study also shows...
Before 2008, homeowners moved on average 3.6 times after buying their first property
In recent years, the slower pace of buying and selling suggests they will move 1.8 times over their lifetimes
There is a boom in people extending their home as they want to create enough room for family members without the stress of moving
Fewer sales has meant it has been hard for removal companies to find work
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