Zoopla research: Recent homemovers spent an average of nine years in their previous home

  • The data shows two peaks in seller activity over the last 18 months, those who bought just before the Global Financial Crisis and those who bought just before or during the pandemic.

  • Homeowners in smaller homes outgrow them quickly spending nine years in a two-bed flat vs 13 years in a larger home

  • Sellers in more affordable areas such as Scotland and the North East are most likely to sell within five years of purchasing their home, with lower SDLT costs unlocking more moves in cheaper regions

  • Londoners who sold in the last 18 months stayed in their home for the longest compared to other UK regions, an average of ten year

UNDER EMBARGO UNTIL 00.01 THURSDAY 19TH DECEMBER, 2024, London: Research from Zoopla, one of Britain’s leading property websites, reveals that homeowners in the UK who sold their home in the last 18 months, spent an average of nine years in their previous home.

Table 1: Over half of sellers have been in their home for less than ten years

Source: Zoopla

The data shows two peaks in seller activity over the last eighteen months, with a  third (33 per cent) of sales taking place after homeowners have been in their homes for three to seven years. Besides personal reasons for moving, key moving decisions have been influenced by a change in needs off the back of the pandemic, fire safety issues and the trippling1 of mortgage rates.

The second peak in activity is influenced by those who bought their home just before the Global Financial Crisis (GFC) in 2007. This trend is more distinct in northern England, where house prices took longer to recover, only just starting to reach pre-GFC levels in 2017. The equity gains that followed helped homeowners in these regions unlock their next move.

Those in smaller homes move on average four years earlier

Homeowners in smaller homes with one or two bedrooms tend to outgrow them quickly and don’t typically stay as long in their homes (nine years vs 13 years for those in larger homes). These property types are popular among singles and young families with fast-evolving home needs who are more likely to upsize earlier than more established families.

Table 2: Average number of years between sales by property size and  region

Region

One & two bed

Three Bed

Four plus bed

Scotland

7

7

8

Wales

8

8

9

East Midlands

8

8

9

East of England

8

9

10

London

9

11

12

North East

8

8

9

North West

9

9

9

South East

8

9

11

South West

8

9

9

West Midlands

8

8

10

Yorkshire and The Humber

9

8

9

Source: Zoopla

Those in more affordable regions are also more likely to move sooner. This is evident in Scotland and the North East, two of the most affordable regions of the UK where homes cost on average £166,500 and £146,000.  Over a quarter (28 per cent) of homeowners in these regions are more likely to sell within five years of purchasing their home.

Table 3: Sellers in more affordable areas sell earlier

Source: Zoopla

Whilst mortgage rate increases have had a less pronounced effect in more affordable regions, the overall cost of moving tends to be lower in these areas making the prospect of selling more attractive for would-be movers.

People in urban areas move less often

Londoners who sold in the last 18 months stayed in their home for the longest compared to other UK regions, an average of ten years. This is most likely due to higher house prices and higher moving costs. Stamp duty rates in the capital are their highest than anywhere else in the country with the average amount paid £14,2302. This includes homeowners in the borough of Kensington and Chelsea and the borough of Westminster where recent homeowners spent  13 years and 12 years in their homes respectively.

Elsewhere in England, we find that homeowners in rural areas (small towns and villages) like Mid Devon, Harborough and Swale sell after the shortest amount of time, eight years on average.

In Scotland however, those living in the main cities of Glasgow and Edinburgh, as well as larger towns in southern parts of Scotland move most often, also on average every seven years.

Izabella Lubowiecka, Senior Property Researcher at Zoopla comments: “Two cohorts of sellers have dominated the market over the last 18 months – those who bought just before the Global Financial Crisis and those who bought just before or during the pandemic. Their decisions to move have been influenced not just by personal needs, but also equity gains, affordability and buying costs. As the market continues to settle in 2025, those considering selling should get in touch with local agents to understand the value of their current home, what demand for a home like theirs looks like and what they can afford to buy.”

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Breaking News

Breaking Property News 02/04/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Made Snappy 360 appoints new CEO and Sales Director to accelerate growth in the property technology space Made Snappy 360, the fast-growing proptech company known for its virtual tours and floor plan technology, has appointed industry veteran Mark Beresford-Ward as its new Chief Executive…
Read More
Home and Living

Expert reveals the exact date parents must start renovating in time for summer

Loft and attic renovations are gaining popularity this spring, with nearly 11,000 monthly Google searches, highlighting them as one of the top home renovation projects Brits are planning in the coming weeks. Loft conversion specialist Sally McClean, loft conversion specialist from Enfields loft conversions Rooftop Rooms, shares the exact dates homeowners should start their renovations…
Read More
Breaking News

Nationwide HPI – Annual house price growth steady in March

Annual rate of house price growth remained stable in March at 3.9%, unchanged from February Northern Ireland remained the top performing area, with annual price growth accelerating to 13.5% London weakest performing region, with 1.9% year-on-year rise Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “UK house price growth remained stable in March…
Read More
Breaking News

Tenants and landlords must be aware of new electrical safety standards in Northern Ireland

Propertymark has urged tenants and landlords in Northern Ireland to be aware of new electrical safety standards that begin on 1 April 2025.   On 19 November 2024, the new regulations were approved by the Northern Ireland Assembly in response to a public consultation throughout September 2023.   From 1 April 2025, the regulations introduce the responsibility for…
Read More
Countryside
Breaking News

End to rent adjudication measures in Scotland

Letting agents across Scotland will welcome the news that the temporary rent adjudication measures end on 31 March 2025. The Cost of Living (Tenant Protection) (Scotland) Act 2022, which temporarily protected tenants by controlling rent, limiting evictions, and setting up rent review measures, ended on 31 March 2024. However, some of these measures were extended…
Read More
Breaking News

Propertymark comments on Stamp Duty threshold changes

Commenting on the Stamp Duty threshold changes commencing from tomorrow, 1 April, Toby Leek, President of NAEA Propertymark, the leading professional body for estate agents, said: “There will be many people completing on the sale of their home today to save potentially thousands of pounds from tomorrow onwards. “Some will also be disappointed that they…
Read More