Before the recession, there were about 1.6 million home
sales a year in the UK, which plummeted to 860,000 in 2009 but has since
recovered to around 1.2 million. New research suggests that the shortfall is
largely the result of "missing movers" - mortgaged home-owners not
moving up the housing ladder. The CML commissioned research which suggests that
"missing movers" account for about 320,000 of the annual housing
transaction shortfall. There are a number of reasons for the decline, including
the fact that there are now fewer mortgaged owners, and they tend to be older
and so naturally less likely to move. However, there are still around 140,000
missing moves that can be attributed to a decline in the rates of moving among
mortgaged home-owners. Read more on the CML website.
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