The Property Academy Home Moving Trends Survey, recently unveiled, has shed light on an intriguing trend: people are relocating more frequently than they anticipate.
The survey’s findings are quite revealing, showing that only a quarter (23%) of home movers initially plan to move within the next six years.
However, the actual scenario paints a different picture, as approximately one-third of them are likely to move within this timeframe.
This tendency is even more pronounced among first-time buyers. While 43% of them expect to stay in their first home for no more than six years, the survey reveals that only 37% adhere to this initial plan.
Interestingly, there’s a notable discrepancy in the perception of a ‘forever home.’ While 31% of respondents enter a property purchase with the belief that it will be their lifelong residence, only 28% actually end up staying there for over two decades.
When it comes to the motivations behind selling a property, the survey highlights diverse reasons. Downsizing emerges as the primary factor, accounting for 18% of the decisions. This is closely followed by the desire to upsize, which motivates 16% of property sales.
Additionally, 15% of people cite a change of scenery or lifestyle as their reason for moving. These insights, sourced from Dataloft and the Property Academy Home Moving Trends Survey of 2023, provide a fascinating glimpse into the dynamics of home moving behavior.
