How Much? Extraordinary rise in cost of moving house

A recent survey reveals that the cost of moving home has risen by up to 13% over the past year across the UK. Here are the highlights:

• England: The highest average moving cost at £51,826, largely driven by changes to stamp duty relief thresholds. Average stamp duty has more than doubled to £4,528.
• Wales: The second highest average moving cost at £34,429, with conveyancing being the largest expense after deposits. Overall costs rose by 3.2%, the smallest increase in the UK.
• Scotland: Average moving costs are now £32,172, up 7.8%. Stamp duty equivalent (Land and Building Transaction Tax) has increased 39% due to higher house prices. Removal costs have risen by 14.1%.
• Northern Ireland: The lowest average moving cost at £31,353 but saw the largest increase (13.2%) compared to last year.

Conveyancing costs have risen across the board, contributing to the overall surge in moving expenses.