The number of home movers fell by 35% in the first half of 2022, according to Halifax.

However the lender said this was still higher than 2019 levels.

The steep fall is down to last year being unusually busy for home moves, as a result of the Stamp Duty holiday. The tax break led to a 133% increase in home movers between 2020 and 2021.

While numbers have dropped this year compared to the record highs of 2021, home moves are still above pre-pandemic levels overall. They make up just under a half (47%) of all house purchasers.

The average house price paid by home movers is now £403,163, up 5% on last year, and 42% over the last five years.

Andrew Asaam, homes director at Halifax, said: “The number of home movers so far this year is lower than the record high set last year: this was not unexpected, and the housing market has remained buoyant in 2022 so far.

“The number of people moving home in the in the first six months of the year was above pre-pandemic levels and is, other than 2021, the busiest start to the year for home moves since 2008.

“Last year was a year like no other – the Stamp Duty holiday drove an incredible amount of demand, leading to an 133% increase in movers on 2020. So, it was always likely we were going to see a fall compared to that record high, but when we look at numbers overall – movers are very much still moving.”

Regional split

Greater London saw the greatest fall in people moving into or around the capital, with a drop of 45%, compared to 2021. Just 13,765 people made a move in the Greater London area in the first half of this year.

The South East saw a similar proportionate drop, with a fall of 43%.

Scotland saw a much smaller fall in movers, of 13%, the lowest of any country or region in the UK. Over 15,000 people made a home move in Scotland – higher than Greater London.