Approximately 11% of the population in the UK move house every year meaning that potentially around 7 million people are looking moving each year in the UK alone.
At any given time, a quarter of UK citizens are currently looking to move within in the next 12 months.
If you are buying a new home, average moving costs, including stamp duty, estate agent and surveyors' fees and removals rise by 59 per cent over the last decade to reach nearly £12,000, research has found.
The number of property sales in the UK almost halved from a peak of 1.67 million in 2006 to 0.85 million in 2009. Since 2009, however, the number of sales has partially recovered – increasing to 1.23 million in 2015.
In recent years the number of first time buyers has been recovering, although numbers fell in 2015 and the levels remain below those seen before 2003.
Another changing aspect of the housing market is the percentage of purchase price being paid as a deposit. For first time buyers, the average deposit as a percentage of purchase prices more than doubled between 1988 and the peak of the economic downturn in 2009, reaching almost 28% of the price of the house. A likely factor was that buyers with smaller deposits became less likely to be approved for a mortgage, pushing up the average value of those deposits that were paid.
Since then, deposits for first time buyers have fallen as a percentage of purchase price, although the 2015 figure of 21% is still much higher than it was through the late 1980s, the 1990s and early 2000s.
For existing owner occupiers, the level of deposit being paid has been more stable, but also peaked during the economic downturn in 2009. Since then the level has fallen from 39% to 35%, which is similar to the level in the late 1980s. The difference in percentage deposit paid by first time buyers and existing owners has therefore narrowed over time.
Supply has also risen, with an increase of 31% in the total dwelling stock between 1980 and 2014.
Under the 1988 Large Scale Voluntary Transfer (LSVT) policy, local authorities transferred much of their housing stock to housing associations and registered social landlords.
Meanwhile, the growth of home ownership throughout the 1980s and 1990s can be partly attributed to the introduction of Right to Buy, a policy in the UK which provides secure tenants of councils and some housing associations the legal right to purchase the home they are living in at a large discount. By 1991, more than one million council houses in England had been sold to their tenants as a result.
Home ownership in England has fallen to its lowest level in 30 years as the growing gap between earnings and property prices has created a housing crisis that extends beyond London to other cities.
Home ownership across England reached a peak in April 2003, when 71% of households owned their home, either outright or with a mortgage, but by February this year the figure had fallen to 64%, the Resolution Foundation said.
The proportion of people who own their own home has fallen across every part of the UK since their peak in the early 2000s
In the early years of the millennium, homeownership levels rose as buyers able to take out mortgages with no deposit scrambled to get on the property ladder. At that point, the average cost of a UK property was £122,748 and growing at a rate of 20% a year, according to Nationwide Building Society, and banks and building societies were keen to lend.
But numbers started to drop as properties became less affordable and the housing market then crashed after the credit crunch in 2008. The return of mortgages for borrowers with small deposits has brought first-time buyers back to the market, but the analysis underlines how great the struggle is to meet today’s new high house prices. According to Nationwide, the UK average had risen to £196,930 in February – a 60% increase in 13 years.
The analysis showed that across England levels of private renting almost doubled from 11% in 2003 to 19% in 2015, while in Greater Manchester the figure more than trebled, from 6% to 20%.
A growing number of British citizens are moving to new countries looking for a better life. Research shows that the main reasons for this include: Access to New Job Markets, Becoming Disillusioned with Britain, Cutting the Costs of Living, Making a New Start.
Looking at the number of people leaving the UK, research shows that Net migration to the UK, the difference between immigration and emigration, was 248,000 in 2016. This represents a decrease of 84,000 from the 2015 numbers.
Source: ONS – Office National Statistics
Source: The Guardian