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12 July 2007

Britons move home every 4 years

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by Kay Mitchell

Britons move home every 4 years

According to a study carried out by Birmingham Midshires, a considerable amount of UK homeowners are moving home, on average, every 4 years in an attempt to keep climbing the property ladder.

In addition, the research found that 26% intend to stay where they for the next 4-7 years and 17% plan to move within the next 4 years. However, just 7% said they expect to stay in the property for over 25 years.

The study also found that people living in London are becoming restless and ambitious, nearly 30% of homeowners are contemplating moving house in the next 3 years.

A spokesman for Birmingham Midshires commented that the days when people would bring up their children and spend their retirement in the same property are in the past. The majority purchase their first home before they get married and will move several times as their lives change.

The cost of an average UK property is now £196,893 according to the latest House Price Index from the Halifax. Many analysts are anticipating a slowdown following rising interest rates.

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