Cost of moving hits ten-year low
The impact of the current stamp duty holiday has brought down the cost of moving home to the lowest level for ten years, according to the latest research.
Despite an upsurge in house prices and the arrival of HIPs, the typical house buyer is now only paying around £1,600 to move home, compared with an average figure of £2,400 back in 1999.
By far the biggest factor has been the effect of stamp duty breaks on properties under £175,000, but the survey also found that competition had led to a reduction in other costs associated with moving.
The study by reallymoving.com, a price comparison site for home movers, showed that the cost of surveys and conveyancing had both fallen during the last ten years by an average of 24% and 10% respectively.
The cost of removals has also become cheaper, with movers typically paying around 15% less than ten years ago.
Even for those still having pay the stamp duty, the overall cost of moving has increased by just 1% in ten years, meaning that after inflation the real cost of moving had come down significantly.
Heywoods Estate Agents said that with exceptionally low interest rates, steadily rising house prices and the lowest cost of moving for a decade, all evidence suggested it was a great time to consider moving home.