Buyers 'travel 125 miles to move house'

31-Aug-2007

First time buyers may consider their first home to be the all-important one, but the typical Briton has travelled 125 miles to move house at least four times over the course of their lifetime, Zurich Insurance has revealed, with almost one in ten travelling more than 400 miles in order to change properties.

The typical Briton expects to own and live in five homes over the course of their lives, the study adds, yet 53 per cent admit that they do not enjoy moving home.

It is rather the motivation to find the perfect property that continues to fuel homeowners' desire to move, the study asserts.

"The British obsession with finding the perfect property is still going strong, with homeowners prepared to move hundreds of miles to find the perfect home in the perfect location," advised Zurich Insurance home underwriting manager Steve Gilbert.

"Homeowners should be aware that a climb up the property ladder has important implications beyond just the move itself. One in six (17 per cent) homeowners admit that making the necessary changes to their household insurance can be overlooked," Mr Gilbert added.

Earlier this week Helen Adams, managing director of first time buyer advice website FirstRungNow.com, suggested that first time buyers should accept they will have to compromise on their first home.

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