Homeowners on the move up 8% in 2014

The number of homeowners moving home increased by eight per cent in 2014, according to Lloyds Bank.

An estimated 365,400 people moved home - the third year in a row that the figure has risen. 

The number of movers in 2014 was 16 per cent higher than in 2009 at the depth of the downturn but despite this pick-up, the volume of homemovers last year was still less than half the all-time high recorded in 2004 (886,700) and just over half the average during between 2004 and 2007 (717,025). 

Since 2009, the average price paid by a homemover has grown 26 per cent from £199,645 to £252,064. The average deposit put down by a homemover was £83,302 last year, some nine per cent higher than in 2013. 

Unsurprisingly, London homemovers put down the largest average deposit - £166,265 - which was the equivalent of 35 per cent of the average property value of £480,416. This is more than four times the average deposit put down by homemovers in Northern Ireland.

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