The number of home moves in the year to June reached the highest level since 2007, figures from Halifax reveal. 

More than 461,000 home moves took place over the period, which was an increase of 52% on the previous 12 months.

Not since 2007, when there were 716,560 transactions, has the figure been higher.

During the first half of 2021 there were 265,070 property sales, which was more than double the 114,030 transactions that took place in the corresponding period of 2020.

First-time buyers also returned to the market in force, according to Halifax, as they made 210,900 purchases, an increase of 74% on the same six months last year. 

However, last year, many home moves and first-time purchases were put on hold because of lockdown, skewing both annual comparisons.

Nevertheless, the total number of transactions over the year to June was still 100,000 higher than at any point in the last 10 years.  

Every region in England and Wales saw transaction numbers double in the first half of 2021 compared to the same period last year, while Scotland saw an 86% increase..  

The regions with the largest increases in home movers were the South East (169%) and London (165%). 

Northern Ireland has seen the greatest long-term increase, with a 182% rise over the last 10 years.

By comparison, London has experienced a 64% rise over the same period.  

As has been noted by many housing market commentators, the pandemic drove buyers to strive for more spacious properties, making detached homes the most popular choice.

The average price paid by homemovers rose 11% in the 12 months to September 2021, to  £387,485.  

Wales (£276,849), East Midlands (£320,715) and Yorkshire and the Humber (£284,268) all saw  prices rise by 16% over the year, whereas Greater London (£699,864) saw prices rise by just 5%,  the lowest of any region.

Homemovers put down an average deposit of £134,227, equivalent to 35% of the purchase price.  

Average deposits were worth at least 30% of the property in all UK regions. Highest deposit levels were in the South West at an average of 38%, while the North had the lowest average at 30%.

Halifax mortgages director Andrew Asaam says: “The rate and scale of the growth of the  homemover market is quite remarkable. 

“After several years of flat transaction numbers then a marked fall at the start of the pandemic, we’re now at a level not seen since 2007.  

“There are many factors that have driven this activity, perhaps the biggest of which is the ‘race for space’ amongst those planning to work from home in the long term. 

“The timing of some of these moves will also have been influenced by people wanting to benefit from the stamp duty holiday.  

“It is important to recognise the boom in sales was not limited to movers.

“There were more first-time buyers in the first six months of this year, than in the first half of any of the last 10 years. 

“Those getting on to the housing ladder accounted for almost half of all mortgage-backed purchases, which  is in line with the long-term average.”