Britons still slow to move home

May 20 | 2014

According to a recent survey by the insurance company Gocompare, around 50% of Britons that would like to move house will be unable to do so for at least 12 months.

 

The survey also showed that those hoping to move have been waiting 3.6 years on average and around one fifth of them are worried that they may never afford to buy a house or move.

It is the costs associated with buying and moving home, as well as high house prices, that are putting people off.  Around 14% also said they had concerns about saving a deposit, 10% were worried about job security and 9% said they couldn’t find what they wanted to buy.

 “Low interest rates and improved confidence in the economy are creating potentially ideal conditions for the housing market,” said Ben Wilson from Gocompare. “‘However, our survey suggests the high costs associated with buying and moving home, together with the requirement to put down a bigger deposit, are preventing many people from realising their property dreams.”