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10% drop in home moves by homeowners since Brexit vote

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Cautious homeowners are reluctant to take on more debt
10% drop in home moves by homeowners since Brexit vote

UK homeowners are choosing to stay put, with the number of home moves plummeting by 10% between 2016 and 2017, according to

The home move website said that Brexit uncertainty has made homeowners reluctant to take on further mortgage borrowing.

The number of moves by owner-occupiers fell from 476,000 in the year to March 2016, the year of the EU Referendum, to 430,000 in the year to March 2017, a reduction of 46,000.

Long-term home

Homeowners are now staying in their homes for an average of 27.3 years, compared to 24.3 years in 2013/14, an increase of 13%.

Rob Houghton, CEO of said: “The life events that normally prompt home moves, such as growing families, new jobs and separation or divorce, are continuing as normal, yet home moves by owner-occupiers have dropped considerably over the last year.

“Our research shows that homeowners were moving increasingly frequently up to 2015, but this trend is now clearly in reverse, which I expect to continue.”

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