Nearly half of home owners buy near 'mum and dad'
Despite common perceptions that children typically leave home to spread their wings to new and exciting destinations, research by Nationwide Building Society suggests almost half of homeowners in the UK, simply move down the road.
In today's modern global community, where people commonly travel abroad for holidays or retirement, communicate easily with friends and family abroad, it's surprising to discover that almost half (44%) of home owners live no further than 10 miles from where they grew up. Yet interestingly, two thirds say they would consider moving away. For many, what prevents a move away is a desire to stay close to their family (51%) and friends (46%).
Only 18% cited confidence in local schools as a reason to stay - with those in the North most likely to be swayed by this (28%). Tracie Pearce, Nationwide's head of mortgages, comments: "Our research suggests that it's often more emotional issues that keep us tied to our familiar surroundings and affect our decisions about moving home. It shows that for some, home really is where the heart is. However, home is also wherever you decide to make it."
Source: Nationwide press relsease and research carried out by YouGov among 1027 UK residents.
July 20, 2012
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