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6 in 10 people have lived in same house for 15 years

From Property Talk Live on December 9, 2013

A remarkable lack of mobility among British households has been revealed in new research from mortgage and loan broker Ocean Finance.

Almost two thirds (60%) of adults say they have lived in the same house for more than 15 years, and one in ten say they haven’t moved for 31 years or more.

This doesn’t mean that people don’t move around before they settle down, however. Almost a quarter (23%) of those questioned by Ocean Finance have lived in 10 or more homes in their lives. Moving is most prevalent among younger people – 54% of people aged under 25 have already lived in as many as three places. On average, people typically move three more times before they are 45.

People in the south east and east of England are more likely to move house frequently, with 27% of those in the east of the country and 30% in the south east saying they have lived in ten or more properties. As you would expect, people in these regions are also less likely to have lived in one place for more than 15 years – at 58% and 56% respectively.

Conversely, people in the East Midlands and Wales are the most likely to stay put, with 70% of people from the East Midlands saying they have lived in the same place for more than 15 years. This figure dropped slightly to 67% among respondents in Wales.

Ian Williams from Ocean Finance said: “While moving home is common among the young, what is remarkable is how people seem to stay put once they’ve found a place that they like. One in 10 of us will stay in the same house for more than 31 years.

“There is also evidence of young people being forced to live at home or ‘boomeranging’ back home after studying away – with 16% of people under 34 saying they have lived in just two places.”

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Source: Property Talk Live