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Moving costs at all-time high

Moving house has never been more expensive, according to comparison website

The firm says the average cost in 2017 was £7,381, the highest since 2010, even when adjusted for inflation.

Nearly half (44 per cent) of the total cost of moving is made up of estate agent fees.

Estate agent rates are at an all-time low of 1.2 per cent of house prices, but high house prices mean fees are high in absolute terms.

The rise in house prices has also affected stamp duty, the second largest contributor to moving costs (27 per cent).

In 2017, the average property buyer paid a stamp duty fee of £2,019.

This is compared to £1,814 for the median property value in 2007.

Removal costs were the third most significant expense, though these can vary dramatically.

Reallymoving chief executive Rob Houghton says: “Increases in fees for services and, in particular, for stamp duty has seen total cost of moving rise to the point where a single move costs nearly a third of the median annual salary.”

The typical cost of a HomeBuyer Report is £400, similar to the price it was a decade ago.



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