Migrating to England is remarkably expensive, a financial burden notably high compared to other places.
The cost of moving house in the UK has seen a significant increase, with initial costs rising by 13% over the past year, according to Yopa's Housing Market Affordability Review. The review identifies several factors contributing to this increase in moving costs across the nation.
One of the key drivers of this rise is the recent reforms to stamp duty, which have increased upfront costs for buyers, particularly first-time purchasers. This tax hike means buyers now face higher payments at the point of sale, which in turn raises the barrier to moving home.
Although there was a slight reduction in the Bank of England base interest rate in May 2025, many mortgage products still hover around or above 4%, keeping borrowing relatively expensive. The mortgage market offers some relief with slightly more affordable options, but affordability remains stretched for many buyers.
The broader economic backdrop, including a weakening jobs market and ongoing inflation above target, adds pressure on affordability. Rising unemployment and concerns over pay reductions weigh on buyers’ confidence and financial capability, indirectly contributing to higher overall moving costs through tighter lending criteria and cautious buyer behaviour.
Despite a busy sales period in May 2025 following stamp duty deadline incentives, the housing market is adjusting to new tax and borrowing conditions. Buyers are now sensitive to the full costs involved in moving, including taxes and higher living costs, which factors into the increased financial burden of moving.
In England, the average cost of moving now stands at £51,826, making it the most expensive country to move home in. Conveyancing fees in England have increased by 12.5% annually, now averaging £1,364. Prior to 1 April, stamp duty cost £2,028, but now it averages £4,528 due to a lack of Government extension of relief thresholds beyond 31 March.
In Scotland, stamp duty or LBTT has risen due to a 39% increase in home prices, but conveyancing costs are what put residents out of pocket, averaging at £1,163. The cost of moving in Northern Ireland, though lower than other UK nations, has increased by 13.2% since 2024, with an average cost of £31,353.
Verona Frankish, CEO of Yopa, stated that homeownership doesn't come cheap. Additional costs for home movers, such as stamp duty, conveyancing costs, mortgage repayments, and removals, total as much as £52,000.
The value of bricks and mortar in home prices has trended upward over the last 30 years. However, the high costs are attributed to inflated interest rates and changes to stamp duty thresholds. The Government's target to deliver 1.5 million homes is a distant memory, but it remains to be seen whether these challenges can be addressed to make homeownership more affordable for many.
- Given the recent reforms to stamp duty and the persistently high mortgage rates, the rising costs in the housing market have made investing in real estate a more financially challenging endeavor for business, particularly first-time purchasers.
- The increased housing costs, as a result of factors such as stamp duty, conveyancing fees, and mortgages, have raised the barrier for many buyers across the UK, potentially influencing a more cautious approach to real-estate business.
