Cost of moving 'tripled' in last decade

Posted: 26 Mar 2007 10:44:53 GMT


            Property News - Cost of moving 'tripled' in last decade

The cost of moving house in Britain is three times what it was a decade ago, a new survey has shown, with estate agents taking over £3,000 per sale on average.

The cost of moving house in Britain is three times what it was a decade ago, a new survey has shown, with estate agents taking over £3,000 per sale on average.

Figures from housing website Propertyfinder showed that the cost of moving was up from £2,925 to £9,486.

Of this amount, just over £5,000 is taken up by stamp duty and £1,000 in legal fees.

While Warren Bright, Propertyfinder's chief executive, said chancellor Gordon Brown had been the "biggest beneficiary" of the price rise as stamp duty revenue soared, the amount taken by estate agents has also risen faster than other costs.

According to the Scotsman, estate agents fees have risen 141 per cent in the last decade, compared with 20 per cent for removal costs and 17 per cent for legal fees.

Mr Bright was quoted by the paper saying: "The high cost of moving home has definitely contributed to the current supply shortage in the housing market."



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