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More homemovers in the UK

Incresing numbers of homemovers in the UK have implications for DIY brands as well.

Incresing numbers of homemovers in the UK have implications for DIY brands as well.

The number of homemovers in the UK is set to reach its highest level for over a decade reveals the latest Property & Homemovers report from data specialists, TwentyCi. "What the data shows us is that a higher percentage of people than normal are on the move. For DIY brands this is welcome news as people that move house typically spend an additional GBP 13 000 (EUR 14 000) on renovations and furnishings," Colin Bradshaw, chief customer officer, comments.

The report reveals that in comparison to the third quarter 2019, new instructions are up by 36 per cent equating to 150 000 properties and sales agreed, having increased by 53 per cent or by 160 000 homes.

The volume of sales agreed has already surpassed the level achieved in 2019 and the number of new instructions is currently at 92 per cent of last year's total, despite an effective market shut down during lockdown.

The lettings market is also in recovery and has almost returned to the same level as pre-lockdown. New instructions are marginally down by one per cent, but lets agreed are up by six per cent.
 

|27 October 2020 | 11:45

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