Posts with tag: homemovers

Budget supermarkets bigger draw for homemovers than school catchment areas

Published On: February 20, 2020 at 9:09 am


Categories: Tenant News

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Budget supermarkets are now a bigger draw for Brits looking for a new home, the latest research from Good Move reveals.

The data gathered by regulated property buyer Good Move reveals that 39% of UK adults said that it is desirable to live near a discounter, such as Lidl or Aldi. School catchment areas seem to be less of a priority than supermarkets, with 29% selecting this as a reason to choose a new location.

This desire for deals appears to be strongest amongst the younger generations, as 54% of 18 to 24-year-olds say they’d want to live closer to a budget supermarket. 

Top of the overall list of priorities, however, was a scenic view, with 44% of UK adults saying that they’d prefer a property with attractive surroundings.

These are the top 10 most desirable amenities to have nearby, according to those who participated in the survey:

  1. Scenic views – 44%
  2. Budget supermarkets, such as Aldi, Lidl, and Iceland – 39%
  3. Local restaurants/bars – 37%
  4. Traditional pubs – 36%
  5. Independent shops – 34%
  6. Walking trails – 33%
  7. High-end supermarkets, such as Waitrose and Marks and Spencer – 32%
  8. A certain school catchment area – 29%
  9. Coffee shops – 28%
  10. Local library – 25%

When asked specifically which stores they would like to have nearby, it was actually Tesco that received the most votes, followed by Asda and then Aldi.

The study also revealed what Brits first research when they move to a new area. When asked what details they seek out about a location before anything else, 21% said public transport connections, showing the nation’s desire for reliable and easy travel.

Overall, the top five details that Brits first research when moving house are:

  1. Public transport links – 21% 
  2. Schools – 20%
  3. Crime rates – 17%
  4. Amenities – 17%
  5. Broadband speeds – 11% 

Ross Counsell, Director at Good Move, said: “Everyone has their own priorities when moving house, but it’s interesting to see how the overall patterns are changing. 

“Budget supermarkets are definitely growing in popularity, especially among the younger generations, and their presence in a region is now making a place more desirable to live.”

Mortgage Lending Hits 9-Year High Despite Weak Homeowner Demand

Published On: February 24, 2017 at 10:53 am


Categories: Finance News

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Monthly gross mortgage lending hit a nine-year high in January, despite weak homemover demand, according to lenders.

Mortgage Lending Hits 9-Year High Despite Weak Homeowner Demand

Mortgage Lending Hits 9-Year High Despite Weak Homeowner Demand

Figures from the Council of Mortgage Lenders (CML) show that banks lent £18.9 billion in the first month of 2017, down from £20 billion in December but up by 2% year-on-year.

This is the highest lending total for the month of January since the £25.2 billion recorded in 2008.

The Economist for the CML, Mohammad Jamei, says: “Overall mortgage lending continues to hold up pretty well, but we seem to have a twin-track market. Weakness in buy-to-let and homemovers has been offset by an increase in first time buyers and remortgage lending.

“A continuing acute shortage of homes being offered for sale is one aspect of a broken housing market that looks unlikely to resolve in the near term.”

However, Andrew McPhillips, the Chief Economist at Yorkshire Building Society, was less impressed with the data.

He explains: “This annual growth in mortgage lending was most likely driven by an increase in the number of people remortgaging to better rates, offsetting the impact of a fall in property transactions.

“Affordability constraints caused by increasing house prices, the cost of Stamp Duty and rising inflation, are still hindering the market by limiting the number of people who can afford a property. These increasing costs are making homeownership a more distant dream for many.”

He continues: “In order to make homes more affordable, the Government should implement measures to ease pressures for potential buyers and build enough affordable housing and infrastructure to tackle the supply crisis.

“The Government should also consider introducing measures to ease affordability pressures in the short-term, such as by changing Stamp Duty to a seller’s tax rather than a buyer’s tax.”

Do you agree with McPhillips’ calls on the Government following his belief that remortgaging caused such a surge in mortgage lending?

Less people moved home in Q1 of 2015

Published On: August 10, 2015 at 12:30 pm


Categories: Landlord News

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Fewer people moved house in the first half of 2015 than in the same period last year, suggests a new survey by Lloyds Bank.

The banks’ latest Homemovers Review shows that 155,000 people moved property during the first six months of the year, which was 9% down on the opening period of 2014.[1]


Despite the year-on-year decline, the number of homemovers in the opening six months of 2015 was 32% more than in the same timeframe in 2009. However, the total was way down than in the first six months of 2007, where there were 327,600 movers.[1]

As the total number of homemovers fell between the opening halves of 2014 and 2015, first-time buyers also fell by 10% during the same period. The number of first-time buyers has however risen significantly more sharply than the number of homemovers during recent history.[1]

Andrew Mason, Mortgages Director at Lloyds Bank, commented, ‘there was a modest decline in the number of homemovers in the first half of the year compared with 2014, which was in line with the general softening in housing market activity. Whilst the number of homemovers has risen significantly since 2009, it remains well below previous levels and has recovered less strongly than first-time buyer numbers. This is likely to partly reflect the high costs associated with moving home, as well as highlighting the difficulties that homeowners can face in finding somewhere suitable to move to due to the shortage of properties available for sale.’[1]


Data from the report also shows that the typical price paid by a homemover has risen by 25.2% over the last five years, from £208,654 to £261,524, an increase of £52,869. In addition, the average deposit put down by someone moving house in 2015 was £87,954-8% greater than last year. This equates to 34% of the typical price paid in total by homemovers.[1]

By regional, the data shows that unsurprisingly, movers in the capital put down the largest deposit of £175,273, which amounts to 36% of the average property value in the region of £492,882.[1]

Less people moved home in Q1 of 2015

Less people moved home in Q1 of 2015

Stamp Duty joy

Alterations to Stamp Duty charges have also saved the average homemover £4,769, which has reduced the tax bill for someone buying the average priced property of £261,524 from £7,845 to £3,076.[1]

Nationally, the number of people moving home paying Stamp Duty is around 83%, in comparison to 76% in 2005. This number varies by region, with 100% of movers in London paying the tax, in comparison with 66%.[1]

Types of Property

Homemover purchases are relatively evenly spread between the three main property types-semi-detached (30%), detached (27%) and terraced homes (25%). However, first-time buyers prefer to buy flats, with 23% in comparison to 10% of overall homemover purchases of the same property type. [1]

In London, a far higher number of movers favour purchasing flats (32%). Additionally, homemovers in the capital bought a lot smaller proportion of detached homes than the national average, with 8% in comparison to 27%.[1]