Millions seeking to move home in 2014

One in four UK adults want to move into a new property this year.

Research by Ocean Finance shows that 26.1 per cent are looking for somewhere new, either to rent or to purchase. The figure is significantly higher (46.6%) among 18 to 24 year olds.

Desire for more space was the the main driver for those seeking a move – only one in 10 were considering downsizing.

One in eight revealed they would be moving for their job – although that number was higher among women.

Lifestyle was also a major driver behind many people’s ambitions to get a new place, with nearly one in 10 (9.2%) respondents admitting they wanted to move to a “nicer area”.

Ian Williams of Ocean Finance said: “Whether they plan to rent or buy, our research shows a quarter of people plan to move house this year. Whether or not they actually succeed in doing so, the figures show that demand for property is likely to remain strong.”