Research by Ocean Finance reveals that more than a quarter (26.1 per cent) of adults in the UK hope to move into a new property this year – whether renting or buying.
This rose to nearly half (46.6 per cent) of 18 to 24 year olds; many of whom may be preparing to fly the nest and move into their own place for the first time this year.
Of the 25 to 34-year-old age group more than a third (37.9 per cent) plan to get a new place in the next 12 months However, little more than one in 10 (13.1 per cent) over-55 year olds are considering a move.
In London, two-fifths (40.1 per cent) of residents intend to move address at some point during 2014, despite rent and house prices being far higher in the capital than anywhere else in the country. Meanwhile, people in East Anglia appear the most content in their current homes, with just short of a fifth (17.8 per cent) considering upping sticks for a new property.
Wanting more space was the main motivation for people to move, with a quarter of those hoping to do so revealing they will look for somewhere bigger. Fewer than one in 10 people are considering downsizing this year, and only 8 per cent of respondents said they needed to find somewhere cheaper.
Many renters in the UK are also considering either taking their first step on the housing ladder or returning to it in 2014, as 7.7 per cent of respondents said they would be looking to buy their own place. This figure rose to more than one in 10 (11.2 per cent) of those aged between 25 and 34.
Double the number of women than men gave moving for work as their reason for moving. Lifestyle was also a major driver behind many people’s ambitions to get a new place, with nearly one in 10 respondents admitting they wanted to move to a ‘nicer area’.
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