Average cost of moving home is now more than £12k

The average cost of moving house has topped £12,000 for the first time, a jump of four per cent since last year, according to new research from Lloyds Bank. 
This rising cost is deterring homeowners from purchasing a new property with higher house prices cited as the main reason for the jump.
Estate agency fees, stamp duty and home removal costs are among the other factors that contributed to the increase.
Andrew Mason, Lloyds Bank mortgage products director, said: 'Although we're still in a low mortgage rate environment, the homemover market stabilised in the first half of the year, with first-time buyers now driving the movement. 
'A lower availability of the "right kind" of homes for people trying to move up the property ladder, combined with increasing deposits required and the costs of actually moving home like estate agency fees and stamp duty are all challenges faced by those looking to take their next step.' 

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London remains the most expensive place to move, with costs almost three times higher than the UK average.
Londoners are also spending considerably more of their gross annual earnings on moving property than the rest of the nation.
They have to cough up on average 72 per cent of their earnings to move, while the rest of the UK spends a much lower 34 per cent. 
There is a substantial regional divide in costs, with those moving in Scotland and Northern Ireland paying an average of 18 and 20 per cent, respectively.
However, the biggest change of moving costs over a ten year period was in the South East where prices have increased a whopping 92 per cent since 2008.
COST OF MOVING BY REGION 2008 TO 2018 
2008 2017 2018 1 year % change 1 year £ change 10 year % change 10 year £ change
West Midlands 8,762 10,044 10,893 8% 849 24% 2,131
East Anglia 9,048 12,909 13,598 5% 689 50% 4,550
London 20,584 32,092 33,741 5% 1,649 64% 13,157
South East 11,589 21,373 22,200 4% 827 92% 10,611
Scotland 5,781 6,018 6,171 3% 154 7% 390
East Midlands 6,097 9,460 9,675 2% 215 59% 3,577
Yorkshire and the Humber 5,612 7,623 7,760 2% 137 38% 2,148
North West 6,081 8,092 8,190 1% 98 35% 2,109
Northern Ireland 8,882 6,131 6,156 0% 24 -31% -2,726
North East 5,640 6,539 6,437 -2% -102 14% 797
South West 9,496 13,443 12,894 -4% -549 36% 3,398
Wales 8,142 8,008 6,955 -13% -1,053 -15% -1,187
UK 9,220 11,624 12,110 4% 486 31% 2,890
Sources: Lloyds Bank, Halifax, Which? Pickford and ONS. * Based on Q2 data   

Estate agency fees are still the most expensive moving fee, rising by £158, equivalent to three per cent, to £5,729.
But, the biggest jump in costs is from stamp duty increases and is responsible for over half of the national average moving cost increase, as prices have risen £365 - 13 per cent - to £3,262. 
The West Midlands suffered the biggest percentage increase in stamp duty as it rose eight per cent - £849 – to £10,893.
COST OF MOVING HOME BY CATEGORY 2008 TO 2018 
Estimated costs £s 2008 Estimated costs £s 2017 Estimated costs £s 2018 1 year % change 1 year £ change
Stamp duty 2,101 2,897 3,262 13% 365
Estate agency 4,444 5,571 5,729 3% 158
Surveyors 540 665 565 -15% -100
Home removal 1,024 1,141 1,168 2% 27
Conveyancing 1,051 1,290 1,326 3% 37
EPC 60 60 60 0% 0
Total cost of moving home 9,220 11,624 12,110 4% 486
Sources: Lloyds Bank, Halifax, Which? Pickford and ONS. * Based on Q2 data  

Elsewhere, the data shows the most expensive property to buy in Britain is a detached house in Greater London, which costs on average £723,832.
In comparison, research completed by Halifax earlier this year revealed that while the average price of a terraced house in Greater London is £471,119, in the North it is £116,740, showing a deep the regional divide.
These figures were reflected on the whole as the cheapest region, when taking the average of a combination of all property types, was the North, at £159,462, closely followed by Scotland at £171,813.
Predictably, the most expensive was Greater London at £449,646 with the South East averaging at £329,169.
Houses are not the only property type increasing in cost. 
Halifax announced in May that the average price of a flat has risen by 48 per cent since 2013, climbing a gigantic £1,250 a month.
Northern Ireland and Wales are now the only areas of the UK where the average cost of moving is cheaper than a decade ago.  
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