August 16, 2018
Why do existing home owners move house?
- There are 14.4 million households across England who own their own home, either outright or with a mortgage. This is 63% of all households.
- Of these, the latest results from the Survey of English Housing estimate that 576,000 (4%) are planning to move within the next six months.
- Moving up the ladder to a larger home is the primary motivation for existing owners, although not for those who own their home outright. Almost a third of those who own outright are looking to downsize.
- As the new school year gets underway shortly, moving home to be in particular school catchment areas is a motivation for almost 10% of owners with a mortgage.