The number of home movers fell 35% year-on-year in the first half of 2022*, a drop that was widely expected following last year’s uniquely busy pandemic-influenced market.

Still high

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.

Trends

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 10 years, with the average age now 40, compared to 41 a decade ago.

Resilience

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.

*Halifax, 2022

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments

Here to Advise

Are you looking for your next house move? As highly experienced mortgage advisors, we can guide you through the process from start to finish, explaining everything you need to know in plain English – so please get in touch!

Clifford Osborne are Independent Financial Advisors (IFA) based in Eastbourne, East Sussex, offering mortgage advice, early retirement advice, pension advice and more. Our clients often come from Uckfield, Lewes, Brighton, Tunbridge Wells, Hastings, Bexhill, Newhaven, Seaford, Crowborough and further afield. Read more mortgage news and other financial advice in our blog.

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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.

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