Homes in the South East, South West and London change hands much more frequently than those in other parts of England.
Analysis of Land Registry data shows that properties are held by their owners for an average of just 16 years in the South East and 17 years in London and the South West.
By contrast, homeowners in the North East are keeping their homes the longest, with property changing hands every 22 years on average - that’s 36 per cent longer between sales than the South East.
The research - which confirms trends highlighted by many market analysts looking at the housing market recovery following the downturn - shows how the typical duration of home ownership has shorted in every region since the depth of the recession in 2010:
- London average number of years a property held by owner: 16.9 (20.6 in 2010);
- South East: 16.1 (22.5)
- South West: 17.1 (22.5)
- East of England: 18.9 (22.9)
- East Midlands: 17.8 (25.3)
- North West: 21.1 (25.3)
- Yorkshire and Humberside: 19.1 (27.6)
- West Midlands: 20.3 (27.7)
- North East: 21.9 (28.0).
“Interestingly, it’s not just the South East that has a relatively healthy number of homes changing hands: the West Country is also thriving. Regional towns like Exeter, Bath and Bristol have vibrant housing markets and the region as a whole also benefits from people moving there from other parts of England” says Doug Crawford of MyHomeMove, which commissioned the research.