However, the research also found that many new homeowners have shown some awareness to this by over-budgeting for moves by approximately 30 per cent.
Discussing the company's findings, head of mortgage marketing at GE Money Home Lending, Gerry Bell, said: "It is reassuring to see that despite rising interest rates and general market turbulence, borrowers appear to have such a realistic outlook when it comes to how much their property is going to cost them."
GE Money Home Lending is one of the leading loan providers in the UK, dealing in mortgages and loans in the home improvement and holiday ownership markets.
The results of the research come only a week after figures released by the Department of Communities and Local Government revealed the average UK house price had reached £218,479.
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