With 2012 expected to see a similar level of transactions as the 866,000 recorded in 2011, that equates to just under 50 households selling up every day to get away from their neighbours.
Rightmove director Miles Shipside comments: “Home movers carry out lots of research before they buy their next home, including what prices are being paid in the street and how the accommodation sizes up, but the first time they meet and size up their neighbours is probably after they’ve moved in. In the current economic climate where people must work hard to progress, and even hold onto, their careers, we are increasingly looking to our homes as a sanctuary to relax and unwind. If our troubles are persisting when we get home at night due to unruly neighbours then that can present a real problem and is an understandable driver to move on.”
Rightmove’s research, revealed in the company’s May House Price Index, also shows that the current market has added an extra ‘D’ to the list of main reasons for people to move. ‘Downsizing’ has now joined death, debt and divorce as a main motivator behind Brits moving home.
Shipside adds: “We’re in a changing housing market where generally only those in a financial position to move will do so, either thanks to the equity in their home enabling them to downsize or through having healthy personal finances. We have found that over 17,000 people will move this year due to problem neighbours, but that only tells half the story. With transaction levels running at around half of historic norms there could well be the same number of people stuck in their current homes and wishing they could get away!”
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