Cost of moving home up 4.9% in a year
The latest research from estate and lettings agent, Barrows and Forrester, reveals that the costs associated with moving home, such as removal hire, solicitors and self storage, have increased by an average of 4.9% over the last year, while other costs such as cleaning, repairs and furnishings have also climbed on an annual basis.
Barrows & Forrester has analysed the various costs of 35 services and items associated with moving house, and how they have changed over the past 12 months. The 35 examples have been split across four broad categories, Moving, Cleaning, Repairing, and Furnishing.
Moving Day - +4.9%
The research shows that the largest increase has been seen in the cost of moving home itself, with an average annual increase of 4.9%, driven by a 10.5% (£50) jump in the cost of hiring home removal services which now averages £528.
A more affordable option is to hire a self-drive van at £71 per day, although this has also seen a 5.1% year on year cost increase.
Furnishing a Home - +4.2%
The cost of a new home doesn't stop at buying property itself. You've often got to furnish it, at least to some extent. On average, the cost of furnishing a home has increased by 4.2% over the last year with the biggest increase being a gas cooker, which currently costs an average of £419 after an annual rise of 10.5%,
Electric cookers are close behind with an increase of 10.4%, and remain the more expensive option at £501.
Significant price increases have also been applied to the likes of curtains (9.4%), sofa beds (8.7%), dishwashers (8.1%), kettles (7.1%), and desks (7.1%) to name just a few.
Cleaning - +2.6%
Whether it's your old home or your new home, the cost of cleaning has increased by 2.6% year on year.
The price of hiring a cleaner has seen the largest jump at 4.4% to an average of £16 per hour.
Window cleaner rates are up by 2.8%, but the price of hiring a carpet cleaner has only risen by 0.6%.
Repairs - +1.2%
When moving home, the chances are there will be some form of repair work required and, overall, the cost of calling in professional help has climbed by 1.2% on an annual basis.
The hourly rate of a plumber has increased by 1.7% and you should now expect to pay about £55 per hour, while carpenters have upped their rate by 1.4% and now charge an average of £26 per hour.
The cost of an electrician costs £43 after a 1% rise while decorators now charge £147 per day, 0.8% more than this time last year.
Managing Director of Barrows and Forrester, James Forrester, commented:
"House prices might be cooling, but the cost of actually moving to and settling in a new home is going up. Inflation is pushing up everything from the price of manufacturing to expenses incurred by tradespeople, and they have little choice but to pass these increases to you, the customer.
The question of whether or not these costs will rise or fall in the future is up to the decision-making of our government. Can Rishi actually come good at his oft-recited pledge to bring rates down? We wait with bated breath."
