London and south homes change hands most often

Search supported by
London and south homes change hands most often

Homes in London and the south east change hands more often than anywhere else in the UK.

Analysis of HMRC and land registry data conducted by My Home Move shows in the south east, properties are held for an average of 16 years, with this increasing to 17 years in London and the south west.

In comparison, homes in the north east change hands every 22 years on average.

My Home Move’s research found that the amount of time between house sales has fallen by 24 per cent across England as a whole from once every 25 years (2010) to an average of every 19 years (2014).

The greatest improvement was seen in the Yorkshire and Humberside region, which saw the time between sales fall from once every 28 years to once every 19 years.

This was followed by the East Midlands, from once every 25 years to once every 18 years.

Doug Crawford, chief executive of My Home Move, said: “Homes in healthy property markets change hands often as people move up the housing ladder or move to new areas for jobs or a change of lifestyle.

“Our research reveals a striking regional trend moving from the south coast up the country with homeowners in the south likely to move much more frequently than those in the north, who tend to stay put for longer.

“Interestingly, its not just the south east that has a relatively healthy number of homes changing hands: the West Country is also thriving.

“Regional towns like Exeter, Bath and Bristol have vibrant housing markets and the region as a whole benefits from people moving there from other parts of England.”