Moving house? Costs up in London, but down in N.Ireland and other areas in the UK

According to research from Lloyds Bank the average cost of moving house in the UK has risen by 9% during the last year, up to £10,996. This increase is much higher than the half a percent rise in the consumer price index and the yearly growth in average earnings which currently stands at 1.5%.

The predominant reason for the increase in moving costs is higher house prices, which have a knock on effect on the costs of conveyancing, estate agency fees and stamp duty:

  1. Estate agent costs have risen by 8% (£402) up to £5,404 this year.
  2. Average cost of stamp duty is up by 17% (£372) to £2,504.
  3. Legal fees have risen 8% (£93) to £1,252.

For more, read:
Moving house? Costs up in London, but down in N.Ireland and other areas in the UK

Advertisements

About Kate Faulkner

One of the UK’s leading property experts, commentators and analysts. An author of a number of property books, including four property guides for the consumer organisation Which?. Media appearances include BBC1 Breakfast, ITV/ITN, The One Show, BBC2 Your Money, Radio 4 You and Yours, Radio 5 Live, Channel 4, plus numerous local BBC radio stations.
This entry was posted in Property Prices. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s