Bills including stamp duty, legal costs, estate agent fees and refurbishment costs contribute to the £29,000 in expected losses experienced when older people downsize their homes. For some, the cost is not worth the release of equity they get from downsizing. A call has been made to decrease or eliminate stamp duty fir older homebuyers, freeing up larger properties fir families that need them. If downsizes continue to face high costs of moving, they will likely stay put.

Read more: Downsizing is an increasingly appealing prospect for older homeowners – This is Money