13 Jan

More people ‘moving up UK property later’

More people ‘moving up UK property later’

Estate agents in the UK will be happy to know that some 337,500 people moved up the housing ladder in 2013, according to new figures from the latest Lloyds Bank Homemovers Review.

As the economy seems to show signs of tentative recovery, so too does the property market with rising house prices allowing movers to attain a higher level of deposit for their next property.

The total number of home movers last year accounted for a three per cent increase in total, leading to the second yearly increase in homemover house purchases to occur in a row.

“As house prices have increased over the last 12 months, we’re seeing more people look to take the next step on the housing ladder. Higher levels of equity are increasing the average deposits, with this figure now at over £75,000, and this, in turn, is giving homemovers more options,” said Lloyds Bank mortgages director Marc Page.ADNFCR-1222-ID-801681762-ADNFCR

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