Proved - the vast majority of vendors buy no more than 20 miles away

Proved - the vast majority of vendors buy no more than 20 miles away

It's long been considered the case that vendors tend to move only relatively close distance but new research has quantified the belief - apparently 70 per cent of sellers go no more than 20 miles away.

The data comes from conveyancing firm My Home Move which has analysed 26,000 movers over a five year period. 

Those living in the North East, the East of England and the South West are most 'loyal' to their regions, with 90 per cent of movers remaining nearby. 

Even amongst the 30 per cent of house movers who do go beyond 20 miles from their old home, the significant majority stay within a 75 mile radius.

The only significant exception to the trend, says the firm, are those who leave London and the Home Counties for the South West, typically travelling over 100 miles to settle in Cornwall, Devon, Somerset and Dorset.

"Our research has also revealed that the North-South divide is alive and well. In the majority of instances where people did decide to move out of their region, they chose to move either east or west, with very few opting to travel either up or down the country, showing that people's sense of identity is still strongly rooted in where they live and where they have come from" says the firm's chief executive, Doug Crawford.

Article courtesy of Estate Agent Today | Sign up for Estate Agent Today newsletter | Get this news on YOUR site!