I recently learned from national census figures that more than six-million people move home every year. I think these numbers reveal we are changing homes at a faster rate than ever before with people in the Southern half of the country the most frequent movers. Conversely, those living in the North East, North West and Wales move home less frequently than anyone else in the UK.
I crunched some numbers and found the average amount of time someone lives in their property in E14 is 8 years. This compares with 22 years in the region and 19 years nationally. I've calculated this by calculating turnover as a percentage of stock and estimating how long it would take for everyone to move house at least once in the area.
If people are changing their home more often, vendors will benefit from a busier market with more demand. It was once the case that only younger people would be more likely to move around, especially live-in couples, but now we are seeing a trend where people of all ages are changing their home at a more frequent rate.
Whether it is because people have more money, have benefited from the rise in house prices, or prefer a change of scenery, the rate at which people are moving homes is rising. If you would like to know more about the property market in E14, don't hesitate to get in touch with me.
I look forward to hearing from you.