Number of people planning to move home doubles

7th January 2014

New research from Clydesdale and Yorkshire Banks today (Tuesday 7th January 2014) highlighted that optimism is returning to the property market with the number of people planning to move doubling over the last 12 months.

At the start of 2013 only 7% of those surveyed as part of Clydesdale and Yorkshire Banks’ Annual Housebuyers Research aimed to move to a new home within the next 12 months, however this has now doubled to 14%.

	Jan 2014	Jan 2013
Simply stay in current home	58%	62%
Improve or extend	22%	22%
Sell current home and move to a new home	14%	7%

The largest percentage of those planning to move are in the London area where 18% intend to buy a new home in 2014, closely followed by 17% in both Wales and the Midlands. In contrast only 11% of those surveyed in both Scotland and in the North West have included moving house in their plans for the New Year.

	Simply stay in current home	Improve or extend	Sell current home and move to a new home
East	61%	23%	12%
London	50%	25%	18%
Midlands	56%	23%	17%
North East	57%	26%	16%
North West	59%	23%	11%
Scotland	60%	24%	11%
South East	61%	18%	13%
South West	64%	22%	12%
Wales	57%	22%	17%
Yorkshire	59%	19%	15%

Optimism also remains high that the value of homes will increase in 2014 with only 3% anticipating that the value of their home will drop in 2014 while 48% think it will rise.

 Andrew Pearce, Retail Director for Clydesdale and Yorkshire Banks, said: “A New Year is traditionally a time for planning and looking ahead and our survey has shown that moving home is again becoming a priority for many people.

“Our Annual Housebuyers Research has also highlighted that this is coupled with sustained confidence in property prices with almost half of those surveyed anticipating that the value of their home is set to increase.”

Clydesdale and Yorkshire Banks have just launched a new range of mortgages. As well as products for those looking to take their first step on the property ladder, there are a number of mortgages fixed for two and five years which come with a £500 cashback offer and no arrangement fees on selected products*. The first time buyer and fee offer mortgages come with a free standard valuation and there is no funds transfer fee.

Full details of all Clydesdale and Yorkshire Banks mortgages are available by visiting www.cbonline.co.uk or www.ybonline.co.uk, or customers can visit their local branch or contact 0800 22 24 26 for Clydesdale Bank or 0800 20 21 22 for Yorkshire Bank.

This Media Release and its contents are intended for journalistic and editorial purposes only.  They are not intended as an advert or invitation to customers, or potential customers, to take or enquire about any products and/or services from the Bank.

*Terms and conditions apply - in branch, online or over the phone.