Property sellers in England and Wales ‘make lowest return in a decade’
Property sellers in England and Wales ‘make lowest return in a decade’
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Cash profit on a sale falls for second year in a row, to below £100,000, finds Hamptons. Sellers in England and Wales made less than £100,000 profit on the sale of their home last year, or just over 40% – the lowest return in a decade – according to the estate agent Hamptons.
It was the second annual fall in a row in terms of cash profit after the market hit a peak in 2022 when the average gain hit almost £113,000 compared with £91,820 last year. The average cash return in London fell by the most – dropping below £200,000 for the first time since at least 2015.
Londoners still made the most on their sales at £172,350 on average, according to Hamptons, followed by sellers in the south-east and east of England, while sellers in the north-east gained the least at £38,220. Aneisha Beveridge, the head of research at Hamptons, said that profits on the sale of properties typically funded a step up the property ladder but “smaller and slower equity gains over recent years, particularly for flat owners, had made this more challenging”.
Beveridge added that last year: “Sellers generally experienced less price growth than those who sold during the coronavirus pandemic. Property prices rose 43% across the country between 2015 and 2024, compared with 64% between 2013 and 2022, just before mortgage rates spiked. On top of this, households have had to grapple with higher mortgage and transaction costs, such as stamp duty, making it more costly to move.”.
