Homeowners looking at three times national average for upsizing homeBy Hugh Fort
December 04, 2012
Homeowners in Bracknell and Wokingham looking for a new, bigger house, can expect to pay six times the national average, new research from Barclays shows.
The bank's analysis of 50,000 mortgage applications from around the south-east show people wanting to move from a one-bedroom property to a two-bedroom one are looking at an average increase of £73, 797, compared to the national average of around £26,000.
For a third bedroom the rise is £79,417, and a whopping £161,270 for people wanting to increase from a three bedroom home to a four bedroom home.
Andy Gray, Head of Mortgages at Barclays, says: “It is a challenging environment for homeowners in the South East to make their way up the property ladder and family support is so important in helping them handle the sizeable price increments involved in upsizing
"With this in mind we launched the Family Affordability Plan earlier this year to help people move up and get on the property ladder.
"We want to keep listening to our customers and the wider discussions families are having about mortgages so we can support
homeowners in their property plans.”