Moving home planned by 30% of Brits in 2011

Thursday, 17 February 2011 11:53

The number of people planning to move home has soared since the height of the recession to three times its previous levels.

This is according to new research revealed by Clydesdale & Yorkshire Banks, which shows that 30 per cent of UK residents intend to move home this year.

Representing the largest single increase since October 2008, the banks note that just nine per cent of people planned to move home at that time.

Residents of the south-east are the most optimistic, with 40 per cent planning a move in 2011, compared to just 22 per cent of Scots.

Steve Reid, retail director for Clydesdale Bank, remarks that this is a positive sign for the property industry - but that the caution in the market should also be considered.

"It's understandable that many people will have put off moving in the last couple of years so the potential demand is there - but the conditions will have to be right for the individual house-buyer to see that demand translate into a move," he adds.

Meanwhile, recent statistics from the Department for Communities and Local Government showed that UK house prices climbed 0.5 per cent in December.

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