"Stamp duty is acting as a handbrake on the housing market. When a family faces a £10,000 stamp duty bill just to move to a £400,000 home, before they've even paid for surveys, legal fees, and removal costs, it's no wonder a quarter of potential movers are staying put"
- Paula Higgins - HomeOwners Alliance
New findings from the HomeOwners Alliance show that more than 800,000 UK homeowners who had considered moving in the past two years ultimately decided against it, citing a combination of high costs, stress, and limited housing options.
One in five homeowners (19%) said they had thought about moving but chose not to. The reasons were varied, but five key barriers stood out:
House prices (35%)
Stress of moving (35%)
Moving costs (28%)
Lack of suitable housing (27%)
Stamp duty (24%)
High property prices, named by 35% of respondents, remain a consistent obstacle. House price growth has continued to outpace wages, leaving many homeowners unable to afford a move up the ladder. At the same time, the moving process itself, also cited by 35%, remains a source of considerable stress, with campaigners calling for systemic reform.
A shortage of suitable housing was the third most common concern. 27% of homeowners who wanted to move said they couldn’t find the right property. This issue affects a wide range of groups, including families seeking more space, older people requiring accessible homes, and those looking for affordable options in the right location.
Stamp duty was also a significant factor, mentioned by 24% of respondents. A move to a £400,000 home incurs a £10,000 stamp duty bill before any other expenses are considered, such as legal fees, surveys, or removals. This upfront cost is acting as a deterrent, stopping hundreds of thousands of homeowners from moving to more appropriate housing.
“Our research reveals a housing market in crisis, not because people don't want to move, but because they simply can't afford to," explained HomeOwners Alliance chief executive Paula Higgins.
"With over 800,000 homeowners shelving their moving plans, we're seeing families trapped in unsuitable homes, unable to upsize for growing children or downsize as they age. While house prices are difficult to control, the government does have levers it can pull and we hope to see this reflected in the Spending Review and the long-awaited housing strategy,"
"Stamp duty is acting as a handbrake on the housing market. When a family faces a £10,000 stamp duty bill just to move to a £400,000 home, before they've even paid for surveys, legal fees, and removal costs, it's no wonder a quarter of potential movers are staying put,"
Higgins concluded, "We also need the right mix of homes. Older homeowners need step-free properties, growing families need larger homes, and everyone needs options they can actually afford. Government needs to look at the existing housing stock and how to help people move into homes that better suit their needs. Finally, although it may not grab headlines, making the home buying and selling process less of a Russian roulette game and more certain and streamlined would give people the confidence to move.”
