Press Release: Cost of moving reduced by a third in past decade
For Immediate Release
29 October 2009
CHEAPER TO MOVE NOW THAN 10 YEARS AGO
Cost of moving reduced by a third in past decade
Research from reallymoving.com, the UK's leading provider of instant online quotes for home-movers, shows that the cost of moving has decreased by over a third in the last ten years, despite the introduction of Home Information Packs (HIPs) and increasing house prices.
The average cost of moving in 1999 was £2,402 and is almost £800 less in 2009 at £1,604. While the costs of services such as conveyancing (-10%), surveys (-24%) and removals (-15%) have decreased over the ten year period, and even with the additional cost of a HIP, the cost of moving is still lower than a decade ago.
In addition, the stamp duty holiday for properties under £175,000 that has been in place since September 2008 has added an extra saving for homemovers who have not had to pay the land tax.
Table 1 – The average comparative cost of moving over the past ten years*
|
Moving Cost
|
1999
|
2009
|
Difference
|
|
Conveyancing
|
£632.00
|
£570.00
|
-9.81%
|
|
Survey
|
£480.00
|
£364.00
|
-24.17%
|
|
Removals
|
£532.00
|
£451.00
|
-15.23%
|
|
HIPs
|
N/a
|
£219.00
|
+£219.00
|
|
Stamp Duty
|
£758.44
|
N/a
|
-£758.44
|
|
TOTAL
|
£2,402.44
|
£1,604.00
|
-33.23%
|
Rosemary Rogers, Director, reallymoving.com comments:
“I’m sure homemovers will be delighted to hear that the cost of moving has decreased significantly over the past decade. This is mainly due to the increased competition amongst service providers and the reduced overheads that come with doing business online.
“Ten years ago it was not as easy to source a number of quotes for a move, and consumers would simply go with the first firm they spoke to or rely on a personal recommendation. Today’s canny homemovers can use websites such as reallymoving.com to receive a number of competitive quotes within minutes with one simple click of the mouse.”
-Ends-
Notes to Editors
* Average UK house price on Halifax HPI was £75,844 in Q2 1999 and £156,944 in Q2 2009. In 1999, 1% stamp duty was payable on properties priced between £60,000 and £250,000. In 2009, all properties priced under £175,000 have been exempt from stamp duty land tax.
All other data compiled from quotes on reallymoving.com in 1999 and 2009. Prices are excluding VAT.
About reallymoving.com
reallymoving.com was launched in November 1999, and has become the UK's leading provider of instant online quotes for home-moving services. The site provides instant quotes for a variety of services including domestic removals, surveys, conveyancing solicitors, Home Information Packs, Energy Performance Certificates and Scottish Home Reports and a choice between local and national service providers.
For further information please contact The Wriglesworth Consultancy, 020 7427 1400
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