Home movers in England are seeing a slight decrease in costs, with the average cost of moving falling by 2.3% over the past year. This reduction is largely attributed to a struggling property market, which has led to a £5,000 drop in the median house price to £390,000.
This market shift has resulted in a £250 reduction in the average stamp duty bill and a £142 fall in average estate agent fees. Removal costs for moving 30 miles have also decreased by 12% to £624. Conveyancing is the only cost that has increased, though by less than £100.
In contrast, moving costs have risen in Scotland and Northern Ireland. Northern Ireland experienced the largest increase, with an average additional cost of £2,217. Costs in Scotland rose by just over £500, while movers in Wales typically pay more than £300 less.
London continues to have the highest moving costs, averaging just over £32,000, despite a drop of more than £500 since last year due to falling property prices. The North East typically has the lowest moving costs.
First-time buyers face lower costs than home movers, as they avoid estate agent fees and may qualify for property tax relief. In England, first-time buyers now pay £22 less on average than last year, driven by a fall in removal costs.