People on average used to move four times after the first time they bought a property, that number has now fallen to an average of two times. Stricter rules on getting mortgages and more older people staying on in large properties are the main reasons being pointed to for this change by industry insiders.
Many homeowners looking to extend their properties
Many homeowners are now looking to extend their properties to make the most of their existing property rather than look to sell up and move on.
To help improve the housing market lenders are now looking to offer more 5% deposit mortgage options to help stimulate growth. Having more options available to borrow money may well help to turn this recent slowing in the market.
Also with the up-surge in the ‘new breed’ of Estate Agent over the past few years offering lower fees for the same service homeowners can save thousands when selling their property.