Cost of selling a property on the rise

The cost of selling a property is on the rise, according to figures from Lloyds Bank. The average cost of moving house is now just under £11,000; a rise of 9% in the last year. Those in London are even more affected, with a £4,732 increase– the equivalent of 18%.

With many estate agents charging a percentage of the final property selling price, rising house prices has been blamed for a large proportion of the increase in costs. Rising house prices also have an impact on conveyancing fees and stamp duty land tax charges. With London house prices rising 14.5% over the last year it’s no wonder that London home owners have experienced a steep hike in the cost of moving. The average cost of moving house in London now stands at more than £31,000; with an average £15,000 going on stamp duty and a further £11,000 on estate agency fees.

Quick Move Properties’ sales director commented: “The cost of moving house has been on the rise in recent years, and with the figure now standing at just under £11,000, moving is not a small financial commitment.

“With the cost of moving rising, property part exchange becomes an increasingly attractive option. The price you’re quoted for your property is exactly the figure you’ll receive, you have no estate agency fees to pay and can move in a timescale that suits you. What’s more, with nearly one in three traditional house sales now falling through before completion, property part exchange offers a certainty and peace of mind that the open market simply cannot provide.”

If you’d like to find out more about how property part exchange could work for you, contact Quick Move Properties today on: 01793 840917 or email: px@quickmoveproperties.co.uk

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