Aviva: Brits stay still on property ladder

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Aviva: Brits stay still on property ladder

More homeowners are happy to remain at their present address than before the recession, an Aviva survey has found.

Prior to the economic crisis, 80 per cent of people surveyed felt they were home 'hoppers' who moved frequently, compared to 26 per cent who now say they are happy to move house regularly.

Of those surveyed, 68 per cent believe their house is an emotional-rather than financial-investment, with 85 per cent seeing it as a place to relax.

In addition, 71 per cent would buy back their home if they lost it, with 16 per cent willing to pay over the odds for it.

The Hoppers V Stoppers survey, conducted with environmental psychology expert Dr Paul Keedwell, calculated that homeowners have an average of £26,880 "emotional added value" in their property from happy memories and home improvements.

Dr Keedwell said a large number of consumers now have an emotional attachment to their home "probably because of, rather than in spite of, the economic downturn"

The findings come as this month's Halifax Property Price Index shows that demand for properties is outstripping supply, resulting in an increase in property prices for the fourth consecutive month.

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