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Brits opt to live near Mum and Dad

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18/07/2012
Despite the perception that children typically leave home and move away, research suggests that in reality this may just not be the case.

According to Nationwide Building Society, almost half of homeowners live no further than 10 miles from where they grew up.

Despite a high number considering a move away, 51% stay in the area due to family living nearby, with 46% staying put because they have friends in the vicinity.

Tracie Pearce, head of mortgages at Nationwide, said: “Our research suggests that it’s often more emotional issues that keep us tied to our familiar surroundings and affect our decisions about moving home. It shows that for some, home really is where the heart is.”

Comfort and familiarity are also some of the most cited reasons as to why people stay in the same area in which they grew up.

Yet 62% of those surveyed said they would consider leaving – suggesting that for at least half of UK homeowners, emotional considerations such as the unfamiliarity of new surroundings or leaving friends and family are more important when choosing where to live than practical considerations such as saving money or developing a career.

Contrary to common perceptions, only 18% cite good schools as the reason to stay in a certain area.

Nationwide’s research showed that of those who made the leap, four out of five were relatively or very happy with their decision, with those moving to Scotland giving their move the highest happiness rating at 47%, with 79% of those that moved away say they have no intention of ever moving back.

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