More than a quarter (27%) of those who moved at the height of the pandemic are now regretting their decision two years on, according to a survey by online mortgage broker Trussle. 

The survey, answered by 2,000 adults, found that of those who regret moving, 12% believe they rushed into the decision and now regret it, while the remaining 15% declared they are not happy and considering moving again.

More than three quarters (76%) of homeowners said they would choose a property with a garden, over being close to a rail station or public transport. 

While Trussle highlights that the trend for green space isn’t a new one, the most recent research does show is that the location of that green space is starting to feel a little too far away from the now bustling towns for 27% of homeowners who moved to greener pastures during the pandemic.

However, 30% of those who moved in the last two years believed it was the right decision, while 18% declared they are happy, but it is taking longer to adjust than they first thought. 

Those living in Edinburgh (14%) and Manchester (13%) are happiest in their choice of location, while 18% of those living in London, 17% in Newcastle and 11% in Birmingham all regret their decision to move.

The onset of the Covid-19 pandemic and various lockdowns led to more time being spent in our homes than ever before, which has led to many homeowners considering a move or undergoing renovations to update their current home.

Trussle says as the cost of living continues to increase, it is unsurprising to see that 24% of homeowners – more than double from two years ago – are now considering re-mortgaging their property to improve their current living conditions, rather than face the costs of moving.

Those in the London region and the younger 18 to 34-year old age group prove to be the most notable homeowner audiences wanting to upgrade their home, with 49% and 46% respectively interested in remortgaging for home improvement purposes.

The most popular home improvements include a kitchen refit (33%), re-doing a bathroom (28%) and having a garden landscaped (24%). 

While this builds on the research conducted by Trussle two years ago, it seems that the desire for a new bathroom and a landscaped garden has crept up, with increases of 5% and 2% respectively.

Trussle head of mortgage operations Amanda Aumonier says: “We are facing a key point in time for the housing market. There is no doubt that Covid-19 shifted homeowner priorities, and with the return to the office and normal life very much underway, it is understandable that many people are feeling unsure of their decisions.”

“However, it is vital homeowners consider the wider picture at this time, taking into account the cost of living crisis, interest rate rises and the soaring house prices. House prices are still at a high, however, there are signs that it is beginning to slow, with growth in April at 12.1%, down from 14.3% in March.”

“Homeowners who are looking to buy should do so with caution as with the market expected to slow, there is a real possibility of negative equity in the years to come. Alongside this, the costs of moving properties should not be understated, especially at a time when household expenses are already stretched,” Aumonier adds.