The top 10 reasons for moving home in 2023
As estate agents with many years of experience under our belts, we have continued to help buyers and sellers whatever the market conditions. People will always need to move home but why people move very much depends on the market and wider financial implications.
The latest Rated People Home Improvement Trends Report featured the results of a homeowner survey, answered by respondents who wanted to move home in 2023. It shed a fascinating light on the reasons why people were planning to up sticks in the coming months.
The team at Rated People were able to compile a top 10 and taking the number one spot was a desire to live somewhere bigger – a motivation cited by 27% of those taking part in the survey. Spots two, three and four were taken by what we call traditional reasons for moving. To live somewhere quieter was the reason for 20% of people wanting to move home, with the need to be closer to family and friends named by 18%, and 18% saying they wanted a bigger garden.
It was the reasons that took fifth, sixth and seventh spots that give an indication of our shifting residential habits, especially post pandemic. It appears our love affair with rural living is over, with 17% saying they wanted to move in 2023 to be closer to a city.
Another 15% said they wanted to live somewhere else to be closer to work, while 13% planned a change in location to be closer to cafés, pubs and restaurants. In ninth spot was a desire to be closer to nightlife (10%), confirming that many home movers are turning their back on sleepy, remote lifestyles. Completing the top 10 reasons for moving home were to be closer to the countryside (12%) and to move closer to good schools (10%).
The Rated People findings are not alone. Cornerstone Tax conducted its own research into home moving patterns and published the results in September. It found seven million Brits had already moved from a rural area because they could not afford the cost of living, and they now rent in a city.
It’s a flow of people that’s set to continue, as the research found an additional 6 million Brits are planning to move back to a city in the next five years so they can be closer to essential amenities, such as schools, shops and transport links.
Landlords are also evaluating where they will buy property in the future. Cornerstone Tax found 12 million respondents are planning to invest in the city instead of a rural area, as they believe this is a smarter investment.
If you are planning a move and have a property to sell, get in contact for a current valuation and a market update. We can also supply you with a list of properties for sale and to rent that meet your requirements – whether that’s a house near an Ofsted rated ‘excellent’ school, a flat within walking distance of an Italian restaurant or a bungalow that’s near a bus stop.
Interior trend: red alert
September 25, 2023
We’re barely into autumn and already the interior design experts are predicting which trends will be big news in 2024. Livingetc – the glossy magazine and style bible – has already published its colour predictions for next year and there are some interesting shades in the spotlight.
Latest: property market report
September 11, 2023
There’s no doubt that the property market is cooling after the unsustainable pandemic levels. While the interest rate and inflation have served to moderate buyers’ plans, property values are naturally returning to more sensible levels. Equilibrium is being provided by falling mortgage rates.
The cost to improve, not move, soars
September 4, 2023
Move or improve? It’s a conundrum many homeowners face when the property market changes. For those thinking of staying put with an idea to extend, convert or perhaps replace their kitchen, it’s worth pricing up any improvements before you commit.