More home moves than pre-pandemic
The number of home movers fell 35% year-on-year in the first half of 20221, a drop that was widely expected following last year’s uniquely busy pandemic-influenced market.
In total, 172,510 people moved house in the first six months of this year, well below the 266,270 who moved in the first half of 2021. Last year’s record, however, was heavily influenced by the government’s Stamp Duty holiday and pent-up demand from lockdowns. Indeed, excluding 2021, this year has seen the busiest start to a year for home moves since 2008.
All UK regions have seen the number of home movers fall in 2022, with Greater London experiencing the biggest decline (45%). Last year, detached homes consolidated their top spot for home moves, accounting for a 7% higher share than a decade ago. Home movers have also become slightly younger in the last ten years, with the average age now 40, compared to 41 a decade ago.
Despite the challenging circumstances, the housing market remains resilient. We can guide you through the busy market and help you stay focused on your goals.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments