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Number of people planning to move home doubles

Interesting new research from Clydesdale and Yorkshire Banks, released last week, highlighted that optimism is returning to the property market with the number of people planning to move doubling over the last 12 months.

At the start of 2013 only 7% of those surveyed as part of Clydesdale and Yorkshire Banks’ Annual Housebuyers Research aimed to move to a new home within the next 12 months, however this has now doubled to 14%.

The London area has the biggest percentage (18%) of those planning to move, closely followed by 17% in both Wales and the Midlands. In contrast only 11% of those surveyed in both Scotland and in the North West said moving house was part of their plans for 2014.

Optimism also remains high that the value of homes will increase in 2014 with only 3% anticipating that the value of their home will drop in 2014 while 48% think it will rise.

The latest figures from the Office for National Statistics have revealed good grounds for this optimism, with UK house prices apparently increasing by 5.4% in the 12 months to November 2013. This year-on-year increase reflected growth of 5.6% in England, 5.4% in Wales, 2.5% in Scotland and 3.3% in Northern Ireland.

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