High Employment And Low Mortgage Rates ‘Up House Moves In 2017’

The climate is good for moving house, according to a new report, which means it’s time to look up removal companies in Bristol if you want to beat the rush.

According to the Lloyds Bank Homemover Review, the number of home movers across the UK was up by two per cent year-on-year in 2017 to some 370,300, Show House reports.

This is thanks to a favourable climate for the property market.

High employment levels low mortgage rates and benefits for first-time buyers are all helping to keep the housing market fluid, even though we are yet to see it recover to pre-financial crisis levels.

Lloyds Bank mortgage products director Andrew Mason was quoted by the news site as saying: “We’ve seen a slight increase in the number of home movers following a weak 2016. This could be down to low mortgage rates, rising house prices and high employment levels.

“House price increases will have boosted equity levels for many home owners, enabling movement along the housing ladder.”

The South East part of the UK had the highest number of home movers last year at 65,400, which is more than double the South West – which came in second with 27,500 home movers. Northern Ireland, however, had the lowest number at just 4,400.

The number of home movers in the UK has been on an annual increase since 2009, when the market hit a low of 315,000. Since then, the number of home movers has increased by 18 per cent – or 55,300.