10 Statistics That Tell the Story of 2024 for UK Home Movers

2024 has been an interesting year for the property industry. The housing market overall has seen some growth and with a new government being elected, new initiatives have already started to come into force, such as the increase in stamp duty on second homes.

But what have things been like this year for the average mover, whether they were buying for the first time, downsizing or moving to a new area?

Over 573,000 quotes were generated for reallymoving customers in 2024, for conveyancing solicitors, surveyors and removals firms. Using data from all these quotes we discovered the following 10 facts:

Accessibility Footnotes

1. The busiest day of the year for moving home is typically the last Friday in August. In 2024 it was the last Friday in May (31st).
2. The median distance moved by homebuyers in 2024 was 12 miles, a decrease of 3 miles from the 2023 average
3. The top 5 locations where the most properties were bought in 2024 were: Birmingham (2.9%), South East London (2.8%), Manchester (2.4%), Belfast (2.3%) and South West London (2.15%).
4. Between July-December 2024, the proportion of First Time Buyers grew by 5% compared to the same period in 2023. Over the year, First Time Buyers made up 59% of all buyers in the market.
5. While just 11.5% of First Time Buyers opted for a new build home over an older property, 89% of First Time Buyers obtained a mortgage to purchase their home.
6. The average house price in England and Wales was £322,432 across 2024, a slight decrease from £323,717 in 2023
7. Home movers (those buying and selling at the same time) sold their homes for an average price of £320,000 and bought for an average price of £375,000.
8. The proportion of First Time Buyers in England liable to pay Stamp Duty remains at just 14%
9. The cost of moving home (buying and selling at the same time) in England fell by 3% in 2024.
10. Those buying and selling a home typically paid £2,002 in legal fees (-1.8% from 2022-23), including expenses and disbursements, while First Time Buyers paid £1,316 on average (+0.1%).