Clydesdale and Yorkshire Banks’ Research Reveals Fewer People Are Planning To Move Home

13th July 2015

Fewer people are planning to move home in the next 12 months, according to new research released by Clydesdale and Yorkshire Banks today (Monday 13th July 2015).

Only 12% of those surveyed in the Banks’ Housebuyers research are planning to collect the keys to a new property in the next year. That’s a drop from 14% at the start of 2015 and from 17% 12 months ago.

Steve Fletcher, Director, Retail Banking, said: “It’s an interesting time in the property market as our research indicates there will likely be a decrease in the number of homes being put up for sale.

“In some areas this is resulting in pent-up demand which is pushing up property prices which is clearly welcomed by sellers. However, for some people it is a deterrent as they are concerned about being able to find their dream property due to the limited selection of homes on the market.”

A further 44% of those surveyed plan to stay in their current home while 22% said they are intending to improve or extend their property. Finances are key for 7% who plan to re-mortgage or to make overpayments to reduce the size of their mortgage.

Londoners are the most focused on moving home with 19% hoping to collect the keys to a new property in the next 12 months compared with only 5% in the East.

Clydesdale and Yorkshire Banks have a range of competitive mortgages including a two year fixed rate fee free rate of 3.59% for loans of up to 90% LTV.

For more information, customers can contact their local branch, call 0800 22 24 26 for Clydesdale Bank or 0800 20 21 22 for Yorkshire Bank, or visit our websites: www.cbonline.co.uk or www.ybonline.co.uk