reallymoving.com 2015 review of the year
25 January 2016
By Rob Houghton
2015 was a good year for first time buyers. The numbers below are based on the 200,000 movers who used reallymoving.com to get quotes for conveyancing, surveys or removals in 2015 and comparing it with the 1.3 million movers that have used our site in previous years.
The average price paid by first time buyers (£202,000) was 75% of that paid by other buyers (£269,000), down from 79% in 2014.
The proportion of buyers that were First Time Buyers rose from 37% in 2014 to 43% in 2015.
FTB prices rose less quickly (4%) than non-FTB prices did (9%).
31% of movers were down-sizing (buying a home for less than the one they're selling), down from 34% in 2014.
77% of buyers were taking out a mortgage, the same level as in 2014.
The average distance moved was 52 miles in 2015, down from 55 miles in 2014.
Note that the most people stay local - half of all moves are 9 miles or less.
Of people requesting a home survey 44% requested a HomeBuyer Report (most suited to buyers of newer home without any suspected major problems), 38% requested a Building Survey (for older properties or those with known concerns), the remaining 18% were not sure and wanted to discuss their home with a surveyor.
Rob Houghton, CEO of reallymoving.com, said:
“It’s good to see the increase in First Time Buyers, although large areas of the country remain prohibitively expensive for many. Until planning regulations are changed to allow more properties to be built we don’t see much prospect of a significant change in this. We’re also encouraged to see the average distance moved continue to drop – our belief is that as the jobs market improves people are having to move less far to find work.”
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Hannah, 09 April 2017