Connells: Homeowners Moving Less Often Due to High Costs and Barriers

Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Connells: Homeowners Moving Less Often Due to High Costs and Barriers

Homeowners in England and Wales are moving less frequently, according to new analysis by Connells. The research highlights that high transaction costs and other obstacles are making it harder for people to move home, resulting in a significant drop in housing market turnover.

Connells reports that the percentage of sellers who bought their home within the previous five years has halved over the past two decades, falling from 29% in 2006 to 14% in 2026. In 2026, just 5% of sellers had owned their home for less than three years, the lowest share on record and down from 15% in 2006.

High transaction costs are cited as a key factor, with the typical mover in England expected to spend £5,950 on stamp duty this year, or £23,000 if buying in London. Additional costs such as conveyancing, mortgage fees, and removals further add to the financial burden.

Weaker house price growth is also identified as a barrier. Connells notes that a fifth of sellers who had owned their home for five years or less sold at a loss in 2026. In London, only 9% of 2026 sellers had bought within the last five years, and an estimated 21% of homes are now worth less than their owner paid.

Further complications for movers include issues with selling leasehold properties, escalating ground rents, cladding, and fire safety concerns, particularly affecting flat owners. The average timescale from sale agreement to exchange of contracts has also increased, creating another deterrent for those considering a move.

Connells' analysis indicates that homeowners are less likely to make small, incremental moves up or down the housing ladder, and when they do move, it is increasingly a bigger, longer-term decision. The fall in turnover is observed across all regions, with the largest declines in London and the South, where transaction costs are highest.

For letting agents and inventory clerks, these trends may impact the volume of property transactions and the frequency of new tenancies, particularly in regions with higher costs and more complex property issues.