The average homeowner in England faces an estimated £15,513 in costs when upsizing, according to research by Yopa – rising to £47y,704 in London.

The estate agency analysed the estimated cost of upsizing across England, based on selling an average flat or terraced home and buying an average semi-detached or detached property, as well as the associated costs.

Across England, the average price of a flat or terraced home currently stands at £231,746, whilst the average current market value of a semi-detached or detached home stands at £372,293 – a difference of £140,548.

However, this difference in property price is not the only financial consideration for those looking to climb the property ladder.

Yopa estimates that selling a property at the average flat or terraced house price comes with £4,902 in associated costs once estate agent fees, conveyancing, an EPC, and removals are taken into account.

The cost associated with purchasing a property at the average semi-detached or detached house price sits at £10,610, including Stamp Duty, conveyancing, and a homebuyer report.

Combined, this puts the estimated cost of climbing the property ladder at £15,513, before the £140,548 difference between the value of the property being sold and the one being purchased is taken into account.

Stamp Duty is by far the largest individual cost facing upsizers, with the average bill estimated at £8,615 across England.

The cost of climbing the property ladder varies considerably depending on where in England you’re looking to upsize.

London is by far the most expensive region, with the combined cost of selling and buying estimated at £47,704.

The South East ranks second at £24,216, followed by the East of England (£18,353) and the South West (£16,571).

The West Midlands (£12,028) and North West (£11,091) also see upsizers face five-figure costs, while the East Midlands comes in at £9,917 and Yorkshire and the Humber at £9,057.

The North East is home to the lowest estimated cost of upsizing, although homeowners still face an estimated £7,066 in associated costs when selling their existing property and purchasing their next home.

Yopa chief executive Verona Frankish said: “When upsizing, the obvious consideration is the difference between what your current home is worth and the price of the property you’re looking to purchase, but that’s only part of the financial equation.

“There are costs on both sides of the transaction and, when combined, the average upsizer in England is looking at more than £15,000 simply to sell their existing home and purchase the next one.”

Yopa took average house price data from the July UK house price index, estate agent and EPC costs from the HomeOwners Alliance, conveyancing fees from Graysons and Really Moving and removal costs from Really Moving and Shiply, as well as Stamp Duty figures from the government.