The Cost of Moving House in the UK Rises by 30% for 2024

The UK is seeing a rise in costs across the board, and moving house is no exception. For 2024, the cost of moving house has increased by a considerable 30.6%

In 2023, the average cost of moving house, according to Compare My Move data, was £9,327.99. The figure has now risen to £12,187 for 2024. This is calculated based on the average costs of selling a property, buying a new home and removal fees.

Cost of Moving House

In 2023, the average cost of buying a house was £3,490 plus the deposit for the home. This included Stamp Duty, surveying and valuation fees and legal fees. Stamp Duty proved to be the biggest cost for buyers, followed by conveyancing. 

When selling a house, estate agent costs were the highest, at an average of £3,268. This, plus the cost of conveyancing and an Energy Performance Certificate (EPC), came to £4,623 in 2023. 

For those buying and selling at the same time, both figures would need to be accounted for. Add the cost of a removal company and postal redirection to your new address at £1,214.99 and you have an overall cost of £9,327.99. As stated, this is before adding the deposit for your home which is based on the cost of the house. 

The Cost of Moving House in the UK Rises by 30% for 2024 1

The biggest increase was estate agent fees when selling a home, rising by just over 74%. As stated above, the average cost in 2023 was £3,268, rising to £5,700 in 2024. The amount you pay an estate agent will depend on how much your home sells for. On average, fees tend to be between 0.9% and 3.6% of the sale price. 

The second biggest increase was Stamp Duty, rising by 29.6%. This is the second blow related to Stamp Duty for buyers in recent years, the first being the end of the Stamp Duty holiday. This was introduced during the height of the pandemic to help boost the housing market. 

House for sale

The ongoing cost of living crisis has undoubtedly impacted the rise in moving expenses over the past year. As a result of inflation, companies are having to increase their costs to cover the rise in energy bills, supplies and staffing costs. 

Although house prices are steadily falling, the average home in the UK still costs over a quarter of a million pounds, at £285,000. For many first-time buyers – or even those looking to upscale – this can feel out of reach. With the increasing cost of moving, the situation can start to look quite bleak. 

Removal company

However, there is good news – albeit a small amount. Not all costs associated with buying, selling and moving have increased. Our data revealed that removal company costs have seen a 6% decrease going into 2024. 

We found that the average removal company cost in 2023 was £1,181. In 2024, that figure is £1,110. This of course will depend on the size and distance of the move. Using a comparison site is a great way to find the best price for your move, saving you both time and money. 

Property survey costs have also seen a decrease of 6%, dropping from an average of £500 to £470. Although surveys are not a legal requirement when buying a house, they are highly recommended. It may be tempting to skip the cost, but a survey can highlight required remedial work or developing problems. This could potentially save you hundreds or even thousands of pounds in future. 

Finally, despite the rise in Stamp Duty costs, it is worth keeping in mind that not everyone is required to pay it.

Stamp Duty does not need to be paid on homes under £250,000 in England and Northern Ireland. If you are a first-time buyer, you don’t have to pay Stamp Duty on homes costing up to £425,000. 

In Wales, Land Transaction Tax replaced Stamp Duty. This isn’t required on homes costing £225,000 or less. In Scotland, Land and Buildings Transaction Tax replaced Stamp Duty and is only applicable to homes costing over £145,000.

Estate agent

Despite the increases, as a whole the cost of moving house will of course depend on various factors. These include your location, the size of your home and the services you require. The more expensive the home, the more you will pay for Stamp Duty, surveying, conveyancing and estate agent costs. 

As we’ve shown, the situation is not completely dire across the board. And there is hope that house prices will continue to fall, along with interest rates for mortgages. With a possible election on the horizon, there could be changes within the property market later in the year. With any luck, this will positively impact the cost of moving house in the UK. 

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