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

Breaking News

Housing sales end 2024 on a high, but buyers more cautious about how much to pay for homes as mortgage rates drift higher

Buyers and sellers returned to the market over 2024 building a sales pipeline 30 per cent larger than a year ago with 283,000 homes worth £104bn progressing to a sale in 2025. This is the largest end of year total value for four years. House prices have returned to growth with the average house price…
Read More →
Breaking News

£21 million to live on UK’s most expensive street

· Knightsbridge in London now the priciest UK street · The UK’s 10 most expensive streets all in the capital, with an average price tag of £16.5 million · East Road in Weybridge the most expensive address outside of London · Priciest UK properties are 60 times more than a typical home Lloyds has revealed…
Read More →
Breaking News

Breaking Property News 20/12/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why estate and letting agents must embrace innovative technology in 2025   As we step into 2025, the UK property market continues to shift, and estate agents face mounting pressure to meet the evolving expectations of buyers and sellers. The days when static images sufficed…
Read More →
Breaking News

Breaking Property News 19/12/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   High street Auctions’ initiative launches to revive Britain’s town centres   This month the UK Government rolls out its highly anticipated ‘High Street Auctions’ scheme, a flagship measure of the Levelling Up and Regeneration Act 2023. This initiative grants local authorities the power to take…
Read More →
Estate Agent Talk

Moving Up In The World: Finding Your Dream Home

Finding your dream home is one of life’s most exciting and transformative experiences. Whether you’re looking to upsize, relocate, or finally purchase that ideal property you’ve always envisioned, the journey is both thrilling and filled with important decisions. As you embark on this path, it’s essential to plan carefully, consider your priorities, and approach the…
Read More →
new build home fronts
Breaking News

These cities are the keenest to move house in 2025

Bournemouth is the keenest area in the UK to move home, with 38,132 average monthly searches for moving-related topics per 100,000 residents. Plymouth is second, with 35,198 average monthly searches for moving, and Birmingham is third, with 35,181. Derry is the least keen area to move house, with only 3,170 average monthly searches related to…
Read More →