It costs £32,000 to move in London

It costs over £32,000 to move house in London when taking stamp duty and estate agency feesinto account, Lloyds Bank research has found.

When moving in the capital the average homebuyer pays out £16,000 in stamp duty and £11,000 in estate agency fees.

The cost of moving in London is three times the UK average of £11,500.

It typically costs 6% more to move than last year across the UK.

Andrew Mason, mortgages product director at Lloyds Bank, said: "The cost involved when moving home has continued to rise over the past year, making it even more difficult.

“Those looking to move in London are facing a considerable challenge with the cost involved being nearly three times the national average.

“The combination of both higher property prices and the rapid increase in those prices in recent years results in significantly higher moving costs.”