Brits move house every 8 years, Co-operative finds

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Brits move house every 8 years, Co-operative finds

The average household changes their address every eight years, with an expanding family being the biggest motivation, the Co-operative Bank has found.

Although ideally they would like to move every 11 years, homeowners admit it takes them around seven years to decide they want to change, with it taking around a year to take their next step on the property ladder.

While 41 per cent want to move to a bigger property to accommodate their family, 17 per cent admit that becoming bored of their hope is an impetus to go.

The desire to change comes despite those surveyed saying it takes an average of two years for them to feel at home somewhere new.

Although people want to move, the company found in the summer that on average across the UK, 35 per cent of sellers were not prepared to drop their asking price, with Scotland having the most stubborn homeowners with 40 per cent standing firm on their price.

Director of retail products at the Co-operative Bank John Hughes said while changing family and financial circumstances are the main causes of a move, it is important people plan ahead to accommodate their finances and the stress of the moving process.

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