Cost of moving rises faster than house prices over the past decade
27 January 2012
Over the past decade, the cost of moving house in Scotland has risen at a faster rate than house prices, according to new research by Bank of Scotland. Since 2001, for someone who already owns a home the average cost associated with moving rose by 69% (£2,847) - from £4,125 in 2001 to £6,972 in 2011. This is greater than the 64% rise in house prices over the same period.
The expense of moving home is now at its highest level since the peak of the housing market in 2007. The average cost of moving house in Scotland is 22% (£1,951) lower than the UK average (£8,922).House moving costs are currently equivalent to 23% of average gross full-time earnings in Scotland1, up from 19% in 2001.