The number of South Koreans moving house has declined to the lowest level in nearly a half century partly due to an aging society and a sluggish real estate market. 

Statistics Korea said on Wednesday that 476-thousand people nationwide registered a new place of residence last month, down by 16 percent from a month earlier. 

For a November figure, it is the lowest since 394-thousand registered in 1974. It also marks the 23rd consecutive on-month decrease since January of last year. 

A recent slump in the housing market was partly behind the latest drop in the figure, as it discouraged people from finding new homes. Only around 65-thousand home purchases were logged across the nation in September and October, down by nearly 60 percent from the same period last year, according to the statistics agency. 

A rapidly aging society was also a factor with senior citizens more hesitant to change their residential areas than younger people.