How much to change the place of residence in the UK

People in the UK who decided to change their place of residence, spent on the move around £6.6 bn in 2013, more than £5.2 billion in 2012. The average cost of a move in the UK was £8248 pounds, which is 25% of average annual earnings.

London – most expensive city for relocation where the relocation would cost to resident £20825. This is almost half – about 47% of the average annual income of a resident of London, who earns £43866.

In the calculation of the cost of relocation was included stamp duty, fee for the estate Agency fees for clearance. Now the average amount of stamp duty in the UK is £2001, and the average value of payment for services real estate Agency – £3601, respectively. And Londoners during the move paid about £10850 stamp duty and £6510 in the middle – is fee-for-service real estate Agency.

Over the past 10 years, the average cost of moving has increased by 22%, while the average cost of a typical residential property increased by 31%. The income of the average Briton rose from 2003 by 29%. This means that the wage-the average cost of moving declined slightly over the past 10 years – from 26% to 25%.

The high cost of changing housing and to the South of the UK, and this region saw the biggest increase over the last 10 years from 8773 to 16187 85%. The main reason for this growth is the rising cost of residential property in the South, which is directly proportional stamp tax. In the end, the stamp duty for 10 years has risen with the cost of £2250 to £ 8157 – more than three times.

Cheapest in the UK, the move will cost the resident of Northern Ireland, where the average cost of moving will be only 15% of the average annual income of a resident is approximately £4253 lbs. Due to the strong fall in property prices in Northern Ireland, the average cost of standard housing units, in 2003 fell below the level of £125000 from which to begin the payment of stamp duty. Many property buyers in Northern Ireland do not pay stamp duty so the total cost of moving has decreased significantly.

® Eleantra. 22.04.2014

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