Why do existing home owners move house?

News at Newton Fallowell | 16/08/2018



Why do existing homeowners move house?
 
Did you know there are 14.4 million households across England who own their own home, either outright or with a mortgage. 
This is a massive 63% of all households.  Of these, the latest results from the Survey of English Housing estimate that 576,000 (4%) are planning to move within the next six months.


So why do they move house? Moving up the ladder to a larger home is the primary motivation for existing owners, although not for those who own their home outright. Almost a third of those who own outright are looking to downsize.  As the new school year gets underway shortly, moving home to be in particular school catchment areas is a motivation for almost 10% of owners with a mortgage. 

And where would we be without our first time buyers? Over 69,000 first time buyers have benefitted from stamp duty relief, and with the competitive mortgage rates out there at the moment, now is the time to become a proud home owner. 
For any further information please contact Nicola on 01733 511225.