Highest number of homemovers in 10 years according to Lloyds Bank.

January 18, 2018

According to the latest Lloyds Bank Homemover Review, the number of people moving home is at its highest level since 2007 with over 370,300 homemovers. Greater London is the only region to see a fall in the number of homemovers in the past year.

The review reveals that the average homemover house price in 2017 increased by almost £6,000 to £296,731 compared to 2016.

Homemover prices and deposits rise to record levels according to the Lloyds Bank Homemover Review. The average deposit put down by a homemover has also increased by 45% in the past five years, from £69,089 in 2012 to £100,387 in 2017.

Andrew Mason, Lloyds Bank mortgage products director, said:

“We’ve seen a slight increase in the number of homemovers following a weak 2016. This could be down to low mortgage rates, rising house prices and high employment levels.

“House price increases will have boosted equity levels for many home owners, enabling movement along the housing ladder. For the first time, homemovers are choosing to pay an average deposit of over £100,000, with Londoners putting down nearly double this. Taking advantage of increased equity levels by putting down a bigger deposit can really make a big difference towards what homemovers can afford and can be the difference between a good home and the right home.”

Read the latest Lloyds Bank Homemover Review released 17th January 2018 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

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 →
Estate Agent Talk

Got a New Home in Nelson UK? Explore Stylish Furniture for Every Corner

Moving into a new home is always exciting, and if you’ve just settled down in Nelson, UK, now is the perfect time to furnish your space with stylish, functional, and long-lasting pieces. At AH Interiors Nelson, we bring you a wide range of modern and classic furniture that makes every corner of your home truly…
Read More →
Breaking News

Annual house price growth steady in September

Annual rate of house price growth of 2.2% in September, similar to 2.1% seen in August Northern Ireland remained the top performing area with annual house price growth of 9.6% Outer South East weakest performing region, with 0.3% year-on-year rise   Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The annual pace of…
Read More →
Rightmove logo
Breaking News

Rightmove launches Online Agent Valuation to help agents connect with more vendors

Rightmove, the UK’s largest property platform, launches Online Agent Valuation, a new product for agents designed to give them more ways to reach prospective vendors. The consumer innovation delivers quality leads by connecting agents with home-owners who are serious about moving, but who would prefer to get a valuation from a local agent online. Rightmove…
Read More →
Breaking News

September sees highest number of homes listed this year

September brings post-summer surge in home seller activity, with highest number of homes listed so far in 2025 The latest internal data from eXp UK has shown that September has delivered a notable surge in market activity, with the firm recording an average of 81 new properties listed every day over the course of the…
Read More →