Market Insight: January-February 2018
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Profiting from Property

Focus Economy Sales Lettings Stat of the Month

Profiting from Property

In 2017 the average seller sold their home for £92,466 more than they paid for it, having owned for an average of nine years. This is up from £90,227 in 2016. Although the bulk of their gains come from price growth, many sellers will have added value by renovating, extending or developing. Sellers saw bigger gains in 2017 than in 2016 in every region, except for London.

But despite a cooler housing market in London than the rest of the country, the capital’s sellers still make the biggest gains, by a long way. Sellers in London gained an average of £252,196 in 2017, over three times more than the average seller outside London. One in three Londoners who sold their home did so for at least twice what they paid for it an average of 8.8 years ago.
Focus Profiting from Property
Nine of the ten places where this year’s sellers made the largest gains were in the capital, with Elmbridge the only local authority outside London making the list. Like in 2016, sellers in Kensington and Chelsea gained more than anyone else in the country, an average of £940,494 down from £1,060,875 in 2016.
In 2017 92% of sellers sold their home for more than they paid for it, up from 90% in 2016. Every region of England and Wales saw fewer sellers make a loss. Sellers in the North East were least likely to make a profit with 21% selling their home for less than they paid for it, down from 29% last year. And in a change from last year, sellers in the South East were more likely to sell their home for a profit than Londoners, 97.6% compared to 97.4%. But even with price growth slowing, most owners are still sitting on plenty of growth from previous years.

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