The average cost of moving home has reached £13,018 for those buying and selling an averagely priced UK property, according to Moving Compared.
Moving Compared, a UK home moving comparison platform, warns that affordability discussions need to extend beyond deposits to cover the full cost of the buying journey through to completion and moving day.
The firm said first-time buyers are putting down an average £42,324 deposit. It also highlighted that UK property transactions now take around 170 days on average to complete, with more than one in five falling through before completion.
Once an offer is accepted, it said buyers typically face a series of additional costs. HomeOwners Alliance estimates that conveyancing and legal fees can reach up to £1,800 when buying, while house surveys can cost £300 to £1,500+, depending on property type, value and location.
Moving Compared said the combination of upfront costs and lengthy transaction times means many first-time buyers underestimate the financial pressure that comes after securing a property.
The firm said the affordability debate should not focus solely on deposits or mortgage costs, but on the full journey from offer to completion, including legal checks, surveys, insurance and moving arrangements.
It added that the risk is heightened by the length of the transaction process, with buyers often committing to multiple costs over several months before a purchase is finalised.
