Average house seller in 2024 ‘made £91,820 more than they originally paid’
Average house seller in 2024 ‘made £91,820 more than they originally paid’
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The average house seller in England and Wales last year sealed the deal for £91,820 more than they had originally paid for their property, according to analysis. In percentage terms, the average seller made a 42% gross profit, which was the lowest return since at least 2015, when records started, property firm Hamptons said.
On average, sellers had owned their property for just under nine years. In cash terms, the average gross profit made by sellers in 2024 was £10,830 lower than 2023 and down from a peak of £112,930 in 2022 when strong house price growth pushed gross gains (before costs were factored in) into six figures for the first time in the study.
Despite lower price gains last year, around nine in 10 (91%) households are estimated to have achieved more than they paid. House sellers saw more than double the percentage gains recorded by those selling a flat last year, according to the research. The average house sold in 2024 for 47% more than its purchase price, while the average flat sold for 23% more.
The average price gain made by house sellers in London last year fell below £200,000 for the first time since at least 2015. The average 2024 seller in London saw the value of their property rise by £172,350 since purchase, £31,840 less than those who sold in 2023.
