No matter what happens in 2021, there will be people, families and households looking to move home. The stamp duty holiday invigorated many people, and it led to a lot of house moves.
However, not everyone was in a position to capitalise on the stamp duty holiday, but could be ready for move this year. Perhaps the timing wasn’t right for a move in some households, but now is the ideal opportunity for change.
There are many reasons why people move home, and relationship changes are a key factor. Alongside a change in working practices, a change in relationship is the leading factor behind house moves, and this will be a critical factor in 2021.
This has been a challenging time for many people
Yes Homebuyers conducted a survey which outlines the reasons why people are moving home:
- Divorce or end of a relationship cited by 23% of respondents
- Relocating for personal reasons said by 21% of respondents
- A desire to have more space was said by 19% of respondents
- 11% of respondents said they were relocating for work reasons
Has the pandemic negatively impacted many relationships?
There is no getting away from the fact that the pandemic has impacted many people’s lives in many ways, including our relationships. Remote working and spending most of our time at home has placed some relationships under greater stress and pressure, and it is inevitable that some relationships have struggled.
Also, the COVID-19 pandemic has placed many people under greater financial pressure. Money worries are often cited as a factor in relationship changes or break-ups, so this is another issue to contend with.
The same Yes Homebuyers study also suggests searches for divorce guidance have increased by 25% due to COVID-19, and enquiries with divorce specialists have risen by 122%.
Other findings include:
57% of people say leaving their home was more upsetting than ending a relationship
Only 25% of movers have been forced to leave a property they would have preferred to stay in
The pandemic has also driven change in the housing market
Of course, the pandemic itself will continue to be a key factor in the housing market, and why people decide to move home. Some of the other reasons for a property move include:
- 11% of people said they were moving for financial reasons
- 6% of respondents said they were downsizing to a more manageable property
- 2% of people were moving after getting married
Matthew Cooper, Founder & Managing Director of Yes Homebuyers, commented: “There are a number of key life events that cause us to move home and unfortunately, divorce is one of them. We’ve seen a number of reports around a spike in divorce proceedings and breakups due to the additional stress placed on relationships during lockdown. So it’s no surprise that it ranks as the driving factor for home moves at present with Covid causing restrictions in other areas of life such as marriage and relocating for work. For some, a breakup will mean a double whammy of leaving their partner and a home they love, but luckily the number of us forced to leave a property we would prefer to stay in remains rather low. However, it says a lot about us as a nation of bricks and mortar lovers when having to leave a home is more upsetting than leaving the person we shared it with.”
Currently, in line with Government guidelines, our Hitchin branch is open and our sales and lettings personnel are on hand to assist you. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 452951 or email email@example.com.