Today’s homeowners and tenants expect to make fewer home moves in their lifetime
High house prices and rent deposits could be attributed to the reason why today’s households expect to make fewer house moves. According to research conducted by the AnyVan.com website, people under 25 years of age expect to move six times. In the same survey, people aged 60 and upwards said they have lived in eight homes in their lifetime.
With people aged 25 years or under expecting to make fewer moves, the debt burden from tuition fees is another factor. Unsurprisingly, home ownership rates by first time buyers have fallen. Other factors could also be changes to the Housing Benefit system. People aged under 35 are only entitled to a room rate instead of a full rate covering their property. This will be exacerbated by this week’s cuts to the benefit cap.
In Bristol, house prices have risen dramatically. Over a 20-year period, a semi-detached house rose from £51,900 in 01 May 1996, to £279,000 on the 31 August 2016. Monthly rents as well as mortgages are a factor, and this is an issue which affects our city. In Bristol, rents rose by 18% from 2014 to 2015. The average per calendar month rent rose from £767 to £904. This could be down to the vibrancy of our city and the student population.
Brexit blitzes home removals plans
The results of June’s EU Referendum have been attributed to a slowdown in property moves. With the impending economic storm, some people have put off prospective moves. In August of this year, one house removal company, Bishop’s Move, stated that people are aiming to complete their move before Article 50 is triggered. Recent reports have pointed to a slowdown or flatlining of house prices. According to The Week magazine, price growth has softened, but activity has fallen.
Whatever happens in the next year or five, we at Simply Removals Bristol will be there to help with your move. Whether Brussels or Bedminster, one of your first moves should be calling us on 0117 287 2152. We shall get back to you as soon as possible.
Simply Removals Bristol, 07 November 2016.