MOVERS STAYING PUT
26 Jul 2019
MOVERS STAYING PUT – but the East Midlands is a prime location for shorter term living
Realistic property prices make moving an easier option in South Derbyshire
Most people who choose to move are setting down roots for the longer term.
New research by Zoopla reveals that homeowners in Britain spend at least 15 years in their home before deciding to find a new property and move on – and it’s people locating in south Derbyshire to towns like Swadlincote and Repton who tend to get itchy feet first.
Zoopla’s analysis of property turnovers reveals that, on average, British homeowners stay in their house for almost 21 years years before moving. But households in South Derbyshire move more often - on average every 15 years.
Regional focus reveals homeowners in the East Midlands spend less time in their properties before moving – around an average 18 years. But Londoners stay in their property for an average of around 26 years.
Central location and realistically priced property are key reasons why moving is more attractive within the region.
Latest results counter the common belief that UK householders are becoming more transient. The research indicates that once you’ve found a property to buy and set down roots in an area there may be little motivation to move on in a hurry.
Shezad Tayub, Director at Online Estate Agents says: “House prices have risen enormously over the past 20 years and many people are either unwilling or unable to take on the cost of moving onto the next rung of the property ladder.
“For agents the often-lengthy spells between home owners moving underlines the importance of building a sound reputation among clients, including having excellent knowledge of the local property market, being trustworthy and transparent – and of course setting fees that are affordable.
“When you are looking for property for sale online, choosing Online Estate Agents makes the most of all these factors at every stage of the moving process, enabling people to buy and sell both affordably and within the shortest timeframe possible.”
Buyer registrations rising
According to Zoopla, buyer registrations continued to creep up during May, by 4% across England and Wales and by a significant 9% in London. At the same time, housing stock continues to decline, creating a shortfall of 28 buyers chasing every instruction across London and 12 across England and Wales.
While traditionally the market tends to cool down in summer pent up demand has maintained momentum into June and July.
In particular, families looking to be in their new home for the new school year are scrambling to find suitable property in time and the lack of new homes to move into is also forcing larger numbers into rental accommodation.
Shezad adds: “Landlords who are considering selling up should bear this in mind the continued high demand for rental property.
“Tenant demand will always outstrip rental supply and the yields to be gained are still far more favourable and a safer bet than many other investment opportunities.”
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