Whether you are looking to rent out your property or sell, it is worth noting that August is the most popular month of the year to move home, according to new research,
The study, undertaken by the HomeOwners Alliance, specifically identifies Friday 30th August as the busiest day of the year to move home.
Some 6,500 moves are expected on this date, which is almost four times more than average.
The research also found that Friday is the busiest day of the week, with more than a quarter - 28% on average - moving on this particular day.
Although the data comes from the English Housing Survey, which reveals that there were 625,000 owner occupier moves in England in 2016-2017 or approximately 1,700 moves per day, it offers a similar trend to the private rental market, as many people look to move during the school summer holidays.
Looking at the most popular month and days to move, this translates into 75,000 homeowners moving in the month of August alone and 175,000 homeowners moving on Fridays over the course of the year.
Paula Higgins, chief executive of the HomeOwners Alliance, said: “Many homeowners like to move during the school summer holidays so their children can settle into their new place in time for the new academic year, which is the start of September across most of the UK.
“It may appear sensible to move on a Friday, so you have time to unpack and settle in over the weekend before heading back to work. But we advise people to be exceptionally careful if they move on a Friday. On this particular Friday, 30th August, with even more moves expected to be happening than usual, it's paramount that people are as organised as possible.
“Of course delays can occur at any time, but issues with transfers of funds are more likely to happen on a Friday when banks, conveyancers and removal firms are stretched to the limit as it’s the time when most housing deals tend to complete. On the last Friday of the month bank money transfers can get overloaded and it’s peak time for conveyancing fraud. If there are delays in transferring funds, you may have to spend the weekend in a hotel or on friends’ and families’ sofa.”
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