So how much does it cost to move house in Sunderland?

By The Newsroom
Tuesday, 15 January, 2019, 13:34

New figures suggest Sunderland and the North-East as a whole is the cheapest area of the country in which to move house.

The research suggests the average sum spent in the region on costs such as removal vans, estate agents fees and stamp duty by existing home owners is £5,148.

This is nearly half the £10,047 nationwide average in the figures unearthed by comparison website Compare My Move.

*October 2018 figures; **Figures from Compare My Move price calculator; ***Stamp duty as a percentage of moving costs.

A separate table for first-time buyers also suggests that moving costs in this region are slightly less than the nationwide average.

*Figures for October 2018; **Figures compiled from Compare My Move price calculator; ***Average months to save the moving costs.

The £1,731 average cost for first-time buyers is £30 below the £1,761 average nationwide cost.

Compare My Move used latest figures from the Office for National Statistics' house price index as well as its own data to calculate the tables.

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Offering tips to reduce the cost for both first-time and existing home owners, company co-founder Dave Sayce said: “Moving house can be expensive, but there are a few avenues for saving on your bill.

"Our recent research shows that unpopular moving days tend to be the cheapest for removal costs. Moving on a Sunday could save you 21% and a Tuesday 14% off the overall average.

“Always compare at least three quotes for your removals, conveyancing and surveying needs.

"There are clear savings to be made by comparing different companies, but make sure you’re clear about your requirements so that there are no last minute surprises.

“It’s important to remember that cheapest may not always be best depending on the complexity of your move.

“It’s vital that first time buyers are fully aware of these extra costs.

"With many young renters taking years to save for a deposit on their first home, these extra costs are a nasty surprise if not budgeted in.

"It’ll take the average millennial four months of saving to cover the £1.7k of moving costs, so it pays to be fully aware ahead of time."

The Compare My Move calculator can be viewed here.