New research from Churchill home insurance reveals that one in 15 homes in England and Wales (1,740,402 homes) now carry official Improvement Indicators, following substantial home improvements, such as loft conversions and extensions.  

The insurer claims its research also reveals the practical and emotional reasons that discourage homeowners from moving. For 40%, the sheer stress of moving including packing, dealing with property chains, and hosting viewings is a major deterrent. A strong emotional connection to their home (32%) and a deep attachment to their community and neighbourhood (31%) also play significant roles in discouraging people seeking out a new home.

Surprisingly, financial factors such as removal costs (24%), and legal fees including conveyancing (23%), rank lower than an emotional connection to a home. These pressures combined however, often make staying put and improving a home a more appealing and less disruptive option than moving.  In 2023/24 alone (the last full year data available), 103,043 homes were added to the Valuation Office Agency’s register following significant improvement work.

Top factors that would discourage homeowners from selling their home and moving

Sarah Khan, head of Churchill Home Insurance, says: “Moving house can be one of life’s biggest decisions and upheavals, especially when your home holds years of memories. How many people have their children’s height as they grow marked on a doorframe, a cherished reminder they can’t pack with them? When you factor in the stress, fees, moving expenses, and leaving a neighbourhood and community you love, it’s no wonder so many homeowners choose to improve, rather than move.  

“If you are embarking on a major home improvement project, it’s important to let your home insurance provider know in case the works impact your insurance cover, particularly if your home will be unoccupied for extended periods.”