Latest News From My Home Move - the UK's leading conveyancer
01 August 2016
Relocation hotspots and ‘not-spots’ of the UK revealed
- South East and East of England named as relocation hotspots attracting 40% of home movers between 2011 – 2015*
- Greater London attracts only 4% of relocation movers, the same as Yorkshire and Humberside*
- North East attracts just 1% of ‘relocators’ over the five year period, becoming the least popular place to relocate to*
The South East and East of England proved the most population places to relocate to between 2011 and 2015, welcoming 40% of relocation home movers over the five year period*, according to research by My Home Move, the UK’s leading provider of mover conveyancing services.
In a reverse of fortunes the North East attracted the least number of ‘relocators’ with an average of just 1% over the five years. London and Yorkshire tied for the second-to-last place with both locations attracting an average of just 4% each; while the South West saw a spike in 2012, as 28% of the year’s ‘relocators’ opted for a new life in Cornwall, Devon and Somerset.
Commenting on these findings, Doug Crawford, CEO of My Home Move said,
“A fifth of all home moves which take place each year can be classified as relocations, as people move from one region to another. Relocation moves are usually linked to milestone changes in a person’s life, such as a new job, moving to begin a family or starting a new life somewhere else.
“Our research suggests that people preferred locations where family homes were still affordable, with good commuter links to the capital but were still close enough to the coast for weekend escapes - towns like Chelmsford, Southampton and Harlow.”
My Home Move analysed the habits of 26,000 movers over a five year period, 2011 – 2015, to determine the number of people who relocated to a new region. On average, 70% of all home movers move less than 20 miles from their old property, while the remaining 30% relocate further afield, including 20% who chose to relocate to a new region completely.**
Continuing Doug Crawford said, “With the rapid increase in house prices over the last five years, we’re not surprised London ranked fairly low down on the relocation list. To put it simply, most people just cannot afford to buy in the capital if they are relocating from another part of the UK - last year a home in London cost £525,000, nearly double the national average of £295,000***.
“In comparison, homes in the North East and Yorkshire cost an average of just £156,000 and £183,000 respectively**. However despite these lower property prices, these areas attracted very small numbers of relocators – suggesting that when the majority of people decide to relocate, the need to be close to a financial centre with varied career options still outweighs the benefits other locations have to offer.”