According to new research from Nationwide Building Society 44% of home owners live no further than 10 miles from where they grew up. However, two thirds say they would consider moving away.
For 51%, what prevents a move away is a desire to stay close to their family and, for 46%, friends.
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%).
Comfort and familiarity with surroundings was respondents’ most mentioned reason for staying put (52%), with emphasis on this increasing in the South to 66%. However, 62% said they would consider leaving.
For the 56% who have moved away, more emphasis was placed on logical and practical considerations. The top motivator was moving to take up a job (34%), with more women than men citing work as a reason for moving (43%). Fewer moved to be with their partner (21%) although more women than men moved for love (23%). Parents moving to access better schools accounted for just 3%, although the greatest concentration of these (13%) were in Scotland.
While those from Wales and the Midlands were most likely to still live in their childhood homeland, those from Northern Ireland and the South were the most likely to have spread their wings to a different region. The research also highlighted those from higher social grades (ABC1) were more likely to move away from their roots (61%), possibly to follow education or career opportunities, or because of affordability issues, particularly as 67% were based in the South.
Nationwide’s research showed that of those who did move, four out of five were relatively or very happy with their decision, with those moving to Scotland giving their move the highest happiness rating at 47%. Perhaps most revealing though is that 79% of those that moved away say they have no intention of ever moving back, while 63% of those that stayed close to home say they would consider moving away.
“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,” said Tracie Pearce, Nationwide’s head of mortgages.
“It shows that for some, home really is where the heart is. However, home is also wherever you decide to make it. Of course where we choose to live is a very personal choice.”
