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Cost of moving 'almost £10,000'

The price of moving home has almost tripled in the past ten years with average costs now standing at around £10,000, according to Property Finder.Research by the website discovered that home movers spend about £5,009 in stamp duty taxes alongside hefty estate agent fees of £3,027. Upwards of £1,000 was also paid out to solicitors for the conveyance of the property while £450 went to removals firms.Escalating costs are a result of rising house prices and a shortage of homes, particularly at the bottom end of the property ladder where many younger people are desperate to get on the first rung, today's research claims."The high cost of moving home has definitely contributed to the current supply shortage in the housing market," said Warren Bright, chief executive of Property Finder. He added: "In the past, when costs were low, there was little to prevent people from making a number of small steps up the housing ladder."Stamp duty, which accounts for over half of moving costs on the average home, has risen sharply over the past ten years from £1 billion to £8 billion, but Gordon Brown resisted calls to reform the tax in last week's Budget."Without doubt, the chancellor has been the largest beneficiary of the booming housing market," Mr Bright went on to say.

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