The Bank of England’s decision to cut the base rate from 4.25% to 4% is expected to unleash a wave of home moves in parts of Yorkshire and the Midlands, as lower borrowing costs prompt buyers who have been waiting on the sidelines to act.
Analysis from removals firm AnyVan, which completes almost 300,000 moves a year, suggests some of the sharpest regional spikes could be in North Nottinghamshire, East Riding and North Lincolnshire, where transactions jumped by more than 50% in the six months following the last 0.25-percentage-point cut in August 2024.
The company’s review of historical moving patterns points to the North and Midlands as the most responsive to cheaper credit, with Yorkshire recording a 36% increase in moves after the previous cut, followed by the West Midlands (35%) and East Midlands (33%).
This time, AnyVan expects family homes in the East Midlands and more affordable county markets to lead demand.
IMPROVED AFFODABILITY
In Nottinghamshire, where the average house price is about £249,000 compared with the UK average of £353,000, improved affordability could accelerate transactions.
Liverpool and Merseyside, which also ranked among the top ten most responsive areas last time, have an average first-time buyer price of £166,000 – further lowering the barrier to entry when mortgage rates ease.
Nationwide data shows UK housing affordability is now at its strongest in more than a decade, with the house-price-to-income ratio at 5.75 and the average 5-year fixed mortgage rate down to about 4.3%.
According to AnyVan, this creates an opportunity not only for first-time buyers but also for families to upsize and for renters to move into ownership.
REGIONAL VARIATIONS
However, the regional picture is uneven. London’s historically muted response — just a 13% rise in moves after last year’s cut – is expected to continue, with only pockets such as Bromley and Harrow bucking the trend.
The South East is also likely to see limited movement, with Southampton, Swindon, North Hampshire and parts of West Sussex identified among the slowest to respond.
Angus Elphinstone, founder of AnyVan, says: “When borrowing gets cheaper, people get moving – and the data proves it.
“Every time the base rate drops, we see a tangible uptick in moving activity, particularly in areas where demand is strong and affordability gives people the confidence to act.
“Our data shows this isn’t just about first-time buyers – it’s families upsizing, renters becoming homeowners, and people relocating for a better quality of life.”
