According to the latest research from Lloyds Bank, the number of people moving home increased for the first time in three years during the first half of 2019.
There were 160,540 home movers during the first half of 2019, a figure up 810 (1 per cent) compared with the same period 12 months earlier.
The increase comes despite home deposits remaining at record high levels.
Three regions have seen increases of over two per cent in the number of moves during that time, with the North West up 2.5 per cent to 15,979, West Midlands up 2.6 per cent to 13,634 and Northern Ireland up 2.5 per cent to 3,280.
The South-East still has the highest number of movers in the UK at 36,316, but this has dipped slightly by 0.9 per cent over the last year.
Their research also found that the average price paid by movers has increased by 32 per cent to £329,648. However, the London average has increased by 37 per cent.
Andrew Bickers, mortgages director at Lloyds Bank, said: “The property market has seen some positive movement in the first half of this year, but first-time buyers are still dominant in driving housing activity, helping to keep moving along the property ladder.
“The slow rate of home movers is a reflection of growing deposits, higher stamp duty charges and potential interest rate rises. The perfect ‘next’ homes are also becoming less available, such those with an extra bedroom and outdoor space – which is all in the mix when it comes to the number of movers we are seeing.”
In a separate survey recently conducted by the HomeOwners Alliance it was revealed that August is the most popular month of the year to move home, with Friday 30 August the most popular day of the year for moving house, with approximately 6,500 moves expected, more than three times above the 1,700 average.
