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Top Things To Know About Moving Home

Top Things To Know About Moving Home

We recently came across a really interesting article in the Daily Mail and we wanted to share some of the article with you. The article shared some top things to know about moving home. We have taken out the bits that we know will interest you so you don’t need to read the whole article!

  • The busiest day of the year for moving home in 2019 was 30th August, followed by 28th June and then 27th September. These were all a Friday. Friday is the most common day for people to choose to move house. This gives you the weekend to move in and unpack, without taking too much time off work. 
  • People that bought or sold their homes in 2019 paid around £1,154 for conveyancing. Please note this figure does not include disbursements such as land registry fees for example. Meanwhile an average of £677 was paid by first-time buyers for their conveyancing needs.
  • The average distance moved by home owners in 2019 was nine miles. Around 40% of all people that moved house in the last year, moved within a five mile radius of their previous home.  As a Peterborough estate agent, this is something we definitely see a lot. People love the areas they live in and often ask us to look for houses for sale in Peterborough that are near to them.
  • The property market was really driven forward by first time buyers last year. In fact, first time buyers accounted for 55.7% of all home purchases. More than a fifth of the first time buyers used a Government scheme to help them buy their first home. This included the Shared Ownership scheme and the Help to Buy scheme.
  • Data collated by Halifax and Reallymoving found that the average deposit paid by first-time buyers during 2019 was £28,800. This is 17% of their average purchase price with is £180,000. 
  • First time buyers also largely escaped paying stamp duty. However, those home owners that were moving up the ladder last year typically paid around £4,625 stamp duty.
  • Movers in the UK that bought and sold their home at the same time sold their home for around £237,000 on average. Meanwhile, they bought their new home for around £292,500 on average.

If you’d like to make sure that you are in the know of all the facts you need when buying a home in Peterborough, call our team. We work hard to make sure our home buyers and sellers know everything they need to know, so they are prepared for the journey ahead.