FEWER home owners are moving house in the UK, with a new analysis showing that moves fell by 10 per cent between 2016 and 2017.

Brexit uncertainty at a time when home owners have become increasingly reluctant to take on new debt are behind the trend, according to the research from reallymoving.

Its experts analysed data from the English Housing Survey, alongside its own figures on home moves.

The data shows that moves fell from 476,000 in the 12 months to March 2016, the year of the European Union referendum, to 430,000 in the year to March 2017, a reduction of 46,000.

Growing reluctance to take on new mortgage borrowing and face the cost of moving house, which is currently at a record high of £7,356 including stamp duty, is resulting in home owners staying in their homes for an average of 27.3 years, compared to 24.3 years in 2013/14, an increase of 13 per cent.

The report also says that despite the fact private tenants face the same economic concerns and personal financial pressures, the lack of security in the private rented sector means tenants experience far greater uncertainty and instability.

Private renters accounted for 55 per cent of home moves in 2017, despite constituting just 20 per cent of UK households.

Rob Houghton, reallymoving chief executive officer, expects this trend of staying put to continue.

“The life events that normally prompt home moves, such as growing families, new jobs and separation or divorce, are continuing as normal, yet home moves by owner occupiers have dropped considerably over the last year,” he said.

“Our research shows that home owners were moving increasingly frequently up to 2015, but this trend is now clearly in reverse, which I expect to continue.”

However, the firm’s data shows that first-time buyer activity has increased considerably, accounting for 54 per cent of all conveyancing quotes on the site in 2017, compared to 43 per cent the previous year.

This suggests that Government support such as Help to Buy is successfully boosting first-time home ownership, despite wider economic conditions.