EMPTY NESTERS SITTING ON NEARLY £60,000 OF WASTED SPACE
On average, over-50s in Britain have £56,574 worth of unused space standing empty in their properties (usually bedrooms belonging to children who have since flown the nest)3.
Many are reluctant to downsize due to the nostalgia and memories linked to their family homes.
LOWEST RISE IN HOUSE PRICES SINCE 2008
House prices crept up by just 0.6% last October, the lowest monthly rise for the time of year since October 2008. This is against an average ‘Autumn Bounce’ of 1.6% over the past decade.
Sluggish prices and political uncertainty are also causing many would-be sellers to put their plans on hold, with the number of properties entering the market down 13.5% on the same time last year4.
MOVING? IT MIGHT COST MORE THAN YOU REALISE…
Buying or selling a property can be an expensive business, if new research on moving costs is to be believed. If you’re looking to move, make sure you have a bit of spare cash to hand – the average moving cost now stands at a record high of £10,4145 (£25,585 in London)!
Higher Stamp Duty and conveyancing fees are believed to be the main culprits behind escalating costs.
3Equity Release Supermarket, 2019