Fewer people choosing to move home according to Connells Survey and Valuation

The latest research from Connells Survey and Valuation shows that the number of valuations to sell have fallen steadily from 45% of the market in May 2010, down to just 27% in May 2017 as homeowners lack incentives to move.

Research shows remortgaging now represents 23% of all valuations, representing a 2% increase month-on-month and a record for May, remortgaging is presntly helping to support the mortgage market.

John Bagshaw, corporate services director of Connells Survey & Valuation, said: “The wind has been knocked out of the market’s sails. Fewer people are choosing to move home. The limited housing stock means that people already on the property ladder can’t see their next move in the market. After major votes and the economic turbulence of the past few years, many potential movers have adopted a near constant wait and see attitude. With a hung parliament heading into Brexit negotiations, the uncertainty in the market looks set to continue.

“The long-term increase in property values over the past seven years has reduced the financial incentive to move, with more homes slipping into the higher Stamp Duty bands. This means potential sellers could face a larger tax bill should they chose to move up the ladder when buying their next home, thus making  it more difficult to free up housing stock to be used more efficiently.

“An increasing number of homeowners are choosing to improve rather than move. While rising long-term property values and political uncertainty have made moving home less attractive, they’ve driven up demand for remortgaging. With homes worth more than they were five years ago and low interest rates on offer from lenders, many have taken the opportunity to refinance for a better deal. This should cut monthly repayments and provide some additional financial security to help homeowners get through any potential economic uncertainty ahead.”

 

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

Breaking News

Rental stock availability in England rises by 19.7%

The latest rental stock analysis from Adiuvo, the UK’s leading provider of 24/7 property management solutions, reveals that tenants in England are benefitting from a 19.7% increase in stock over the 12 months leading up to Q3 2025. In some areas of the country, annual stock growth easily exceeded 50%. Adiuvo has analysed rental listings…
Read More
Breaking News

Tenant demand continues to climb in Q3 as rental market shows no signs of cooling

The latest market analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has revealed that tenant demand continued to climb across the rental sector during the third quarter of this year, with West Sussex home to the highest demand, whilst Rutland saw the largest quarterly increase. Dwelly’s Rental Demand Index* analyses…
Read More
Breaking News

Halifax House Price Index for September 2025 – Thoughts from the Industry

Halifax House Price Index for September 2025. The latest index shows that: On a monthly basis, house prices fell by -0.3% between August and September 2025. However, house prices were up 1.3% on an annual basis. The new average house price now sits at £298,184. Thoughts from the Industry. Nathan Emerson, CEO of Propertymark, comments:…
Read More
Breaking News

Halifax House Price Index for September 2025

House prices in September 2025 were -0.3% lower than the same month a year earlier. Average house price – £298,184 Monthly change -0.3% Quarterly change +0.4% Annual change +1.3%   Amanda Bryden, Head of Mortgages, Halifax, said: “The average UK house price edged down by -0.3% (£794) in September, following a modest rise in August.…
Read More
New Build for Merseyside
Breaking News

First-time buyer demand falls sharply

First-time buyer demand falls sharply across Britain’s major cities, with Nottingham leading the decline The latest research by Yopa has shown that first-time buyer demand has dropped significantly across a number of major British cities, with Nottingham seeing the sharpest decline since the start of the year. Yopa analysed first-time buyer (FTB) demand based on…
Read More
Breaking News

Families to save hundreds of pounds through major homebuying overhaul

·        Buying or selling a home to be faster, cheaper, and easier under common-sense reforms ·        First-time buyers to save £710 on average, putting money back into people’s pockets ·        Proposals will halve number failed transactions, preventing last minute fall throughs, slashing weeks off the process and driving up standards across the board Hundreds of thousands of first-time…
Read More