This guide will show you exactly what the average cost of moving house is and how you can save money moving. If you’re planning to move home and you might be wondering how much it costs to move home in the UK.
The amount it costs to move home depends on a variety of factors, including whether you are buying, selling or renting.
This article will cover answers to all of your quesions including a definitive answer on the average cost of moving home
The amount it costs to move home varies a number of factors, including:
So, the cost of moving home depends on if you’re buying or selling.
According to the research and analysis we undertook, the average cost of buying a house in the UK is: £3,838
This includes averages across the average UK house price, valuation fees, solicitor fees, general moving expenses and household costs.
Look below for a full breakdown.
|Average Cost of Buying a House 2021|
The average cost of selling your house is: £8,755
This cost covers national averages from the costs you will incur from selling your home. This includes, average conveyancing fees, estate agents, the cost of paying your mortgage whilst you sell and general moving costs.
If you’re also buying a home your costs will be higher. However, think of the £8,755 as the net amount you will lose purely by virtue of selling your home.
With this in mind, let’s look into a more detailed breakdown of why
|Average Cost of Selling a House 2021|
In the UK, the average cost of moving house is increasing year on year. That’s the macro trend. So, what makes moving home more expensive?
Firstly, we have inflation is rising by circa 2% per year making your money stretch less and less. Then, the average house price is now £266,000 in the UK, increasing 10% within a single year. All of these factors, including mortgage rates, make it more expensive to purchase a home and cover the mortgage.
To get an accurate figure on how much it costs to buy a home we need up-to-date statistics & data. That’s why we’ve done all of the hard work for you and figured out exactly how much it costs to buy a home in the UK in 2021.
Let’s jump in and explore how much it costs to buy and sell a house in the UK.
As we know the UK Government introduced a stamp duty holiday in July 2020. This stamp duty holiday ended 1st October 2021, meaning we have returned to the original Stamp Duty rates.
So, what is Stamp Duty? Stamp Duty is a tax payable only by the purchaser of a property.
Historically, Stamp Duty originated from Spain in the 17th Century and was the administration fee for the government certifying a transaction. Since, it has been adopted by the UK and the costs expanded to fund various government initiatives and budgets.
Now, how much is Stamp Duty? Stamp Duty is only payable on properties over the value of £125,000. If you’re a first-time buyer you only pay stamp duty on amounts over £300,000.
The table below shows how much stamp duty you’ll need to pay for purchases in England & Northern Ireland.
|Property Price||Purchasing Main Residence||Purchasing Additional Property|
up to £125,000 (£300,00 for first time buyers)
£125,000 – £250,000
£250,001 – £925,000
£925,001 – £1,500,000
So, when do you pay Stamp Duty? Stamp Duty is deducted from your transaction by your solicitor at point of purchase. You will be asked to pay this alongside your deposit.
With all of this in mind, we can try to answer the question: what is the average stamp duty paid?
This, of course, depends on how expensive the property is. However, if we know that the average property price in the UK in October 2021 is: £265,668 we can calculate the typical stamp tax.
A non first-time buyer will pay:
This equates to an average stamp duty tax in the UK of: £3,283
A first-time buyer would pay 0% in stamp duty because they have nothing payable up to the first £300,000.
Someone purchasing an additional property would pay:
Therefore the total stamp duty bill for an additional property on the average UK home is: £11,253
As we see, your circumstances dramataically impact your stamp duty bill and hence the cost to purchase your home.
Now, let’s turn to the cost of property surveys.
When looking at the average cost of moving house we have to look at property surveys. A property survey is a discretional (but recommended) cost from the purchaser of a property. In essence, it is a survey and detailed report on the property’s condition. Broadly, it verifies the structural integrity of the home, including stability of walls, subsidence, damp and many more.
So, how many people take out a property survey?
According to data from Churchill, the take-up rate differs dramatically dependant upon the type of property being purchased.
|Property Type||Building Survey|
As new build properties are (as the name suggests) new, home buyers can also opt for a snagging company as well.
Studies show that 51% of new build properties have major faults. However, according to our an analysis we did at SlothMove less than 15% of new build buyers take out a snaging report.
A housing survey is different than a mortgage survey. The buyer will need to pay their mortgage company (usually around £250) to survey the property. This is a very surface level check ensuring the property is worth the price you’re paying for it and has no clear defects.
With this in mind, what is the average building survey cost? Analysis conducted by Abacus Valuations showed the average building survey costs below
Therefore, the average building survey cost on the average home in the UK is £800.
If you choose not buy one you may run the risk of paying much more down the line if there are significant defects. Therefore, we will include it in calculating the average cost of moving house.
Property building surveys usually come in three levels of detail from basic, detailed and comprehensive. Generally, the older the property or more concerned you are the more comprehensive you should go.
Now we’ve covered the survey impacts on the average cost of moving house, there’s one piece of important advice to remember. You should always try to have a survey by a RICS qualified surveyor (Royal Institute of Chartered Surveyors).
The largest cost you’ll have as a buyer is your deposit. The more you pay in terms of deposit the less your monthly payments are and the better interest rates you get.
In the UK the average deposit for a home is 15%. On the average property price of £265,668 that equates to an average house deposit of £39,850.20.
The most important rule is getting as big a deposit as you can afford. The larger your deposit, the smaller your loan to value ratio (LTV) will be. The better your LTV, the better mortgage rates you will get, helping you save money when moving home.
You can get deposits from as low as 0%, however the interest rates are typically 4-5% and even higher. The average interest rate in 2021 on a 5-year fixed mortgage is as low as 1.48%.
We can’t answer the question about the average cost of moving home in the UK without looking at the valuation fee.
Payable by the buyer (not the seller), the valuation fee applies for those taking out a mortgage. It is the fee the mortgage company applies for assessing the property they’re lending on is worth the money you’re paying for.
The average cost for a valuation survey by a mortgage company is £250. Most mortgage companies charge the same amount, but the fee can vary from as little as £150 up to £1,500 based on the size of the property.
For example, see the below valuation fee table from Chelsea Building Society below:
When choosing your mortgage provider, consider the full costs. Whilst their valuation fee might be high you may save a lot more money interest rates and other fees. Looking at the whole picture will reduce the price it costs to move home.
When buying a house in 2021 your conveyancer fees will vary greatly. The average price of a solicitor when moving home in 2021 is £1,040 for a standard freehold purchase.
These fees vary largely based on the price of the property that you’re buying. Other complicating factors such as help-to-buy schemes, gifted deposits, leasehold, and others can increase the price of the transaction.
What is the cost of solicitors when buying a house? An average of £1,040
What is the cost of solicitors when selling a house? It is slightly cheaper to sell a house, with an average of £950
Your legal fees when moving home (whether buying or selling) are broadly comparable.
Following a survey of dozens of conveyancers we can start to map-out average conveyancer costs based on the property price. The below prices are including VAT, to help you understand the average cost of moving house.
up to £125,000
up to £250,000
up to £375,000
up to £500,000
up to £750,000
up to £1,000,000
According to a survey completed by The Advisory, the average estate agency fee in the UK is 1.42% of the property.
With that, we can calculate that the average estate agency fee in the UK is £3,777.
Then, we have online estate agencies which range from free to £500. Their operating model is providing a platform in which you pay a small amount or nothing and you pay for various upgrades. You’ll also need to conduct the viewings yourself.
Estate agency fees are 43% of the cost of selling your home. This can seem an excellent area to reduce costs, however going for a lower-cost (or free) estate agent can be a false economy. A more expensive estate agent may cost you £2,000 more but might be able to add £10,000 onto the sale price.
Overall, the average cost of moving home can fluctuate based on the estate agency fees. However, optimise the quality, ratings and price for the best result.
To help understand average estate agency fees, you may find our average estate agency fees table helpful:
There are two further costs to think about when looking at the average cost of moving home. Firstly, is your energy performance certificate (EPC). This is only payable by the seller and is required under law to sell the home.
The energy efficiency rating, as the name suggests, rates the energy efficiency of your home from a scale of G to A on a score of 1 – 100. The report provides the current energy efficiency and the potential.
The EPC lasts for 10 years, so it’s likely that you’ll already have one and not need to purchase a new one. If you’re wondering ‘how do I find my EPC online’ you can check out your home here on the government’s website.
So, how much does an EPC cost? If your energy performance certificate is out of date, you can purchase one in 2021 for between £50 – £150 based on the size of your property.
Interestingly, the average EPC is a band D. So, if you’re C or above you’re in the top half of the UK for energy efficiency.
Finally, we have the general moving home costs which will help us understand the average cost of moving house.
Most neglect the small details when calculating how much it costs to move home. One of the most overlooked costs is the general stuff.
Whether you are buying or selling home you may need to hire a removal company. You can compare removal companies across the market using our handy tool.
So, what is the average cost of removals in the UK? Let’s explore the average below 😎
Firstly, according to nationwide analysis, the average house-type in the UK is a 3-bed semi-detached home. In fact, 42% of all new build developments are 3-bed homes.
Then, with that we can overlay the average amount of furniture in a 3-bedroomed home (two bedrooms, one office, one reception room etc…).
From research, we also know that the average home move is across 9 miles.
By conducting analysis with 10 removal companies across the UK and regionally we can find the average. We will look at regional firms as well as national to get a full and balanced overview.
So, we take a 3-bed semi-detached home moving 9 miles accounting for regional and national differences.
With this we understand the average cost of moving your home. This is also the average cost of moving a 3 bedroom home.
Our research at SlothMove HQ shows that the average house removal costs in 2021 are £480.
Storage may be required if you’re buying or selling home and must be factored into our average cost to move home.
Various factors affect storage costs such as:
With this in mind we can calculate that the average cost of temporary storage. the average length of time is 4 weeks and the average sq ft required is 100. This makes the average cost of storage when moving home £200.
The below table contains data from the 2021 SSA UK Annual Industry Report.
On average we save home movers 7 hours of time and hundreds of pounds on moving home.
You are also able to setup a royal mail redirection, for 3, 6 or 12 months.
And finally, a few other costs to consider when moving home are:
These are circumstantial costs where you may pay some, none or all of them.
So, when we add all of the moving costs together we can definitely say that the average cost for moving home in 2021 is: £3,838 for buying a home. And £8,755 for selling a home.
The other consideration to add to this is if you’re selling a rental property and the tenants move out ahead of the sale. You’ll need to add that cost to the home move.
Now we’ve covered the average cost of moving home, let’s turn to moving home facts we’ve compiled 🤓
You can contact the National Lottery in three ways: email, phone and by post. You can call the National Lottery on: 0333 234 44 33
According to the latest statistics from the ONS, the average house price in the UK is £266,000.
In this guide we have covered answers to the most common questions around moving home and how much it costs to move home in the UK. We know that the cost of moving home differs based on if you’re buying or selling a home. There are a number of variable costs such as estate agency fees, legal fees and many more. If you’re moving home soon you can get started with our hassle-free change of address service by clicking below.
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