The average cost of moving home in the UK has exceeded £10,000 for the first time ever. This is Money shared research carried out by Compare My Move, which found the average cost of a home move now comes in at £10,047.
In London this figure is considerably higher, at £27,769. The main reason for the significant expense is stamp duty. In the capital, this accounts for 60 per cent of the amount people spend when buying a new property, outside the purchase price.
The figure from Compare My Move includes stamp duty, as well as estate agents and conveyancing fees, the cost of a removal company to move the average three-bedroom home, and any extra expenses, such as a payment for an Energy Performance Certificate (EPC).
Co-founder of the company David Sayce told the news provider that there are ways to reduce the expense of moving home.
“Our recent research shows that unpopular moving days tend to be the cheapest for removal costs: moving on a Sunday could save you 21 per cent and a Tuesday 14 per cent off the overall average,” he revealed.
Of course, you may decide you’d prefer to take care of that side of things yourself. Make sure you buy furniture gliders to help you shift the big pieces of furniture in your home with ease.
Data from the Office for National Statistics (ONS) recently revealed that the number of people buying or selling homes fell last year, compared to 2017. Overall, transactions fell by 3.2 per cent between June 2017 and June 2018.