Online Mortgage Advisor analysed property ownership data from HM Land Registry from the last three decades and found that Brighton and Hove is a popular forever home location.
This data found that Brighton homeowners live in their properties for an average of ten years, seven months, and thirty-one days, which is longer than other areas in the South East.
This research showed that South East homeowners have one of the shortest tenure lengths in Great Britain, as people sell their homes on average after nine years, nine months, and twenty days.
Paula Higgins, Chief Executive of HomeOwners Alliance, said: “I think it’s not just the house; it’s definitely the community. People will choose to live longer in certain homes because they’re part of a community, and they’ve got ties to the community.”
These findings show that people in London keep their homes the longest, averaging a tenure of eleven years, three months, and nineteen days.
Another key finding was that Tandridge homeowners have the longest tenure in the South East, living in their properties for an average of eleven years, five months, and twenty-two days.
Matt Lanninge, Property Consultant, said: “The area is arguably more important for some. Some people wouldn’t live on a street they didn’t feel safe on, or was too busy, too quiet, or simply doesn’t reflect them.”
This research found that Waverley property owners sell their homes the fastest in Great Britain, owning them for an average of five years and thirty-one days.
This data also found that most long-term homeowners choose detached houses because they may have a higher income or want additional space.
Matt Lanninge, said: “Having full control of your detached home and not having attached neighbours gives homeowners a different sense of security and wellbeing that they may not get with a terraced or semi-detached home.”
These findings indicate that the average tenure length in Great Britain is ten years and two months.
These results also show that Scotland homeowners sold their properties quickly, on average owning their homes for eight years, four months, and eleven days.
This research dates back to 1995 and examines 662,051 tenures within 366,608 properties across Great Britain.
The property types included in this research are detached, semi-detached, terraced, and flats.
To find out more, visit https://www.onlinemortgageadvisor.co.uk/content/forever-homes-2023/#national.
