Homeward bound

Living close to our ‘nearest and dearest’ is becoming a top priority for house-hunters when searching for a new home, reveals Alliance & Leicester Mortgages’ movingimproving index.

Three out of ten (29%) who have flown the nest rate being near to family and friends as a key factor when moving home. This rises to over a third (36%) for parents with children. With the number of working parents increasing, many families may look to be closer to other family members for support and to help assist with childcare.

Heading home for the holidays - some for good!

With Christmas amongst the most popular times for family reunions, not only will most families be getting together, but one in five adults will also be spending the festive season at their childhood home. And it is not just students away at university who will be heading back for the festive period, as 6% of the over-55s will also be spending the holidays in their childhood home.

The survey also highlights how one in 25 (4%) now own their childhood home, either as a result of inheriting the property, or by buying the house from their parents or grandparents. A further 6% say they would like to buy their childhood home from their parents in the future.

Stephen Leonard, Director of Mortgages at Alliance & Leicester, says: “It’s interesting to see that so many people are looking to buy their homes based on proximity to family. Although there are many factors to consider when moving home, such as easy access to transport, work and good schools, being close to family and friends is a key factor for many when looking to purchase a home for many buyers.”