Over a quarter (27%) of people who moved house in the height of the pandemic are now regretting their decision, according to online mortgage broker, Trussle.

This figure is made up of 12% who believe they rushed into the decision and now regret it, while the other 15% declared they are not happy and are considering moving again.

In a survey answered by 2,000 adults and commissioned by Trussle, 76% of homeowners would choose a property with a garden, over being close to a rail station or public transport.

Trussle highlighted that for many, the pandemic encouraged homeowners to escape heavily populated cities, in a bid for increased space in the less populated and rural countryside. However, the broker suggested that the current feeling of regret amongst some could be attributed to the return to normal life, with footfall in cities up, restaurants and bars busy again, as well as public transport use increasing every day.

However, Trussle’s research did find that 30% of those who moved in the last two years believe it was the right decision, with 18% also declaring they are happy but it is taking longer to adjust than they first thought.

Head of mortgage operations at Trussle, Amanda Aumonier, commented: “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.”

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