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Half of UK homeowners looking to move

A recent survey by Gocompare.com suggests that approximately 50% of UK adults are contemplating either moving house, or putting their foot on the first rung of the property ladder. However, the survey also highlights some of the perceived obstacles to doing so.

Rather than investing in their existing property with loft conversions, interior décor or hardwood flooring, Liverpool homeowners join the 51 per cent of those surveyed in the North West of England, who are considering a move before looking to spruce up their place of residence.

This figure is compared to 62 per cent within London. Indeed, the survey suggests that those who were asked have spent more than 40 months contemplating the idea.

Conversely, the survey goes on to suggest that despite of the desire of homeowners to move, almost two thirds believe that it will take them a further year to realise their dream, with a fifth of those surveyed predicting that they will never be able to afford either a move or a buy.

The cost of buying a house is cited as the most significant obstacle for potential new homeowners, with 16% of those questioned giving this as their main reason, with this answer being most common amongst 18 – 34 year olds. Closely behind this were 14% of respondents, who suggested that the time taken to raise a deposit is also a big factor in the delay. The economic uncertainty of recent years has also had an effect, in so far as 10 per cent of respondents commented that they viewed their job security, or future income, as the largest obstacle to their potential move.

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