According to Zoopla, the two peaks in seller activity came from those who purchased their home just before the global financial crisis and those who bought during the pandemic.
This was shown by a third of homemovers having been in their last home for 3-7 years. Zoopla said their moves were influenced by a change in needs realised during the pandemic, fire safety concerns and higher mortgage rates.
The other peak in activity came from people who bought their homes just before the global financial crisis, with this trend more prevalent in Northern England. Zoopla said prices took longer to recover in this region and only reached pre-global financial crisis levels in 2017.
The firm said the equity gained by homeowners in Northern England helped them with their next move.
Aldermore Insights with Jon Cooper: Edition 5 – Feeling enthusiastic about next year’s run-of-the-mill market
Sponsored by Aldermore
People in smaller homes move earlier
Zoopla’s data found that people in smaller homes with one or two bedrooms tended to move quicker than those in larger properties, at an average of nine years compared to 13 years.
This was more evident in Scotland and the North East of England, where homes are more affordable and cost an average of £166,500 and £146,000 respectively.
Around 28% of homeowners in these regions were likely to sell up within five years of purchasing their home.
Fewer moves in urban areas
The research showed that London homemovers who sold in the last 18 months stayed in their homes longer than people in other UK regions, averaging 10 years.
Zoopla said this was likely because of the higher house prices in the city and higher moving costs. Stamp duty rates are the highest in London, with homemovers paying an average of £14,230.
This includes homeowners in the borough of Kensington and Chelsea, as well as the borough of Westminster, who stayed in their homes for 13 and 12 years respectively.
Homeowners in rural areas, like Mid Devon, Harborough and Swale, sell after the shortest time, at eight years on average.
This is in contrast to Scotland, where homeowners in the major cities of Glasgow and Edinburgh, as well as other larger towns, move frequently, at seven years on average.
Izabella Lubowiecka, senior property researcher at Zoopla, said: “Two cohorts of sellers have dominated the market over the last 18 months – those who bought just before the global financial crisis and those who bought just before or during the pandemic. Their decisions to move have been influenced not just by personal needs, but also equity gains, affordability and buying costs.
“As the market continues to settle in 2025, those considering selling should get in touch with local agents to understand the value of their current home, what demand for a home like theirs looks like and what they can afford to buy.”
