Just under half of ‘Empty Nesters’ across the UK say they are not considering downsizing to a smaller property according to Lloyds Bank report

April 30, 2018

Just under half (45%) of Empty Nesters across the UK say they are not considering downsizing to a smaller property despite their children having ‘flown the nest’, according to the latest research from Lloyds Bank.

lloyds Bank reveals that two fifths of parents don’t want to leave their family home because of strong links to their local area and the need to keep the extra space for grandchildren.

The report also found that for those wanting to downsize (45%), one of the main drivers was to reduce bills, with two fifths (40%) saying that they want to downsize to reduce their monthly outgoings and 10% say that they can no longer afford to live in a bigger home.

Andy Mason, Lloyds Bank mortgage products director, said: “Contrary to the belief that this time in a parent’s life is lonely, a lot of Empty Nesters are now enjoying life since their kids have flown the nest by being able to travel more and chase lifelong dreams.

“It is also encouraging to see a significant number of homeowners looking to downsize and release funds for their future; movement at this end of the ladder is important to keep the housing market healthy.”

research report 27th April in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Average two-year fixed mortgage rate for 60% LTV now cheaper than five-year rate

The average two-year fixed mortgage rate for those with a 40% deposit (60% LTV) is now cheaper than the average five-year fixed equivalent, the first time this has happened since the mini-Budget The average two-year fixed, 60% LTV mortgage rate is now 4.18%, while the five-year equivalent is 4.19% The gap between average two-year fixed…
Read More →
Overseas Property

How UK Property Investors Can Manage Exchange Rate Risk When Buying Off-Plan Overseas

Off-plan purchases are especially common in developing overseas property markets with a high proportion of international investors. In these less mature markets, a significant share of stock is sold directly by developers, making off-plan transactions a natural sales model. These opportunities appeal to international buyers because they typically require less upfront cash due to extended…
Read More →
Breaking News

Foxtons Lettings Market Index – March 2025

London rental market gains momentum as new rental listings surge, Foxtons data shows   March saw a 14% increase in new rental listings across London compared to February Applicant registrations rose by 11% month-on-month in March. Year on year, demand was stable, tracking just 2% below March 2024 levels The average rent in March stood…
Read More →
Breaking News

UK’s mid-market firms show improved business growth in March but economic uncertainty continues

Key findings: NatWest’s Mid-market Growth Tracker shows improved business growth in March, led by a strong service sector performance SMEs register a softer decline in output levels during March Market conditions remain challenging and we could see continued challenges in the coming months   Mid-market businesses continued to outperform the wider UK economy in March,…
Read More →
Breaking News

ONS Private rent and house prices UK – April 2025

The Price Index of Private Rents (PIPR) measures private rent inflation for new and existing tenancies. The UK House Price Index measures house price inflation. Main Headlines Average UK monthly private rents increased by 7.7%, to £1,332, in the 12 months to March 2025 (provisional estimate); this annual growth rate is down from 8.1% in…
Read More →
Breaking News

Renters’ Rights Bill – what you need to know

The Renters’ Rights Bill is an extremely important piece of legislation for anyone who rents their home. For those in England (with some elements also covering Wales and Scotland), it represents one of the biggest changes in well over thirty years, and it’s important to be aware of what it might mean to you if…
Read More →