This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Those Moving Home Rose 8% in 2014
The amount of people moving house in 2014 increased by 8%, revealed Lloyds Bank.1
Approximately 365,400 people moved home last year1, the third consecutive year that this number has grown.
The number of homeowners moving to a new property in 2014 was 16% higher than in 2009, when the market was in the doldrums. However, this number is still considerably less than the record high seen in 2004, 886,700, and just over half the average witnessed between 2004-2007, of 717,025.
Since 2009, the average house price paid by movers has risen by 26%, from £199,645 to £252,064. The average deposit was £83,302 last year, a 9% rise from 2013.1
It is not surprising that London movers paid the highest deposits, an average of £166,265, which is 35% of the average property price of £480,416. This is over four times the average deposit paid in Northern Ireland.1
1 http://www.estateagenttoday.co.uk/1867-homeowners-on-the-move-up-8-in-2014
