The recession could spell an end to people moving house frequently in a bid to climb the property ladder, new research has revealed.

A study carried out by Aviva found that 74 per cent of homeowners are happy to remain in their current property as a result of the current economic downturn.

Of those surveyed, 68 per cent said they view their home as an emotional investment.

Commenting on the findings, Dr Paul Keedwell, an expert in environmental psychology at Cardiff University, said the recession has changed people from "house hoppers to house stoppers".

"Currently less than a fifth of us regard our homes as mainly financial investments and it appears as a result of this we have acquired an emotional added value to our homes," he added.

According to the Halifax House Price Index, the value of property in the UK rose by 1.2 per cent during the month of October.

First-time buyers can make the moving process easier by using self-storage facilities for some of their belongings.

Written by Emily Sanders