Older buyers most likely to move far away
Wednesday, 09 May 2007 13:10
The older the buyer the further they want to move
Older buyers are the most likely to move furthest away from their current home, new research reveals.
A study from FindaProperty.com and PrimeLocation.com finds the older the buyer, the more likely they are to move long distances from their current property.
Among the over-55s, the average distance buyers were looking to relocate to was 48 miles, with this figure dropping to 29 miles for 45 to 54-year-olds, 14 miles for 25 to 34-year-olds and just nine miles for those aged 18 to 24.
Across all age groups, two in three buyers were looking to move within ten miles of their current home.
The research also reveals women are keener on staying close to their current property than men, looking to move 22.5 miles on average from their current property, compared with around 30 miles for men.
"When you consider that most of us find our life partner within thirty miles of where we are born, it's not surprising that the majority of us are only prepared to move ten miles away from our current homes," explained behavioural psychologist Donna Dawson.
"Moving house is ranked as the third highest stress factor in people's lives (after death and divorce), so by staying close to our roots, we can hang on to all the vital reference points that make life easier, such as where the best schools, doctors, shops, and services are located."