Then, let’s split the findings into quarters.
- Top 25% fastest Swindon homeowners in 2022 moved on average after 2 years & 21 weeks
- The following 25% of fastest Swindon homeowners in 2022 moved on average after 6 years & 24 weeks
- The next 25% of Swindon homeowners in 2022 moved on average after 13 years & 34 weeks
- Whilst the 25% slowest Swindon homeowners in 2022 moved on average after 22 years & 28 weeks
When looking at the properties that fall into the slower time bands (i.e., the ones that don’t move/sell so often), they tend to be the larger properties where the homeowners have lived often for 30 or 40 years.
Maybe, the one lesson from these statistics is that once homeowners get into their 60’s and 70’s, their tendency and inclination to move home declines significantly.
This means the homes on the lower rungs of the Swindon property ladder are selling quickly (as younger aged homeowners occupy them) … yet once Swindon people tend to get older, their tendency to move diminishes.
This obstructs the younger generation of Swindon homeowners from wanting to buy the bigger Swindon properties these mature Swindon homeowners live in.
What is holding the older generation back from selling and downsizing to free up family homes for families that desperately need them? Some will be apathy, and some will be wanting to hold on to the homes they brought their families up in, yet the bottom line is …