House prices have been rising steadily over recent years and hit a new record high in July 2016. This seems to substantial contributing factor of you not wanting to move, with 31% of you citing this as a reason why you would prefer to stay put and improve. Stamp duty is another barrier, as one in ten of you said that high stamp duty costs would stop you from moving and 31% indicated that you would be more likely to move if stamp duty was cut.
Moving house can be an expensive business – of which stamp duty is a significant element. Once you add in the average cost of stamp duty, which is over £3,500 across the UK, to all of the other moving costs that you face, like legal fees, estate agent fees and removals, it can make moving house cost-prohibitive. Perhaps unsurprisingly, many of you would prefer to put your hard-earned savings towards improvements in your home to try to add value and make life a little bit better in your own home. You can see below the potential of these improvements, such as adding a new kitchen, bedroom or living room, or even just updating your garden.