House prices up

The average homeowner in England and Wales who sold up last year made around GBP100,000 more than the amount they had originally paid for their property, according to analysis.

Estate agent Hamptons, which carried out the research, looked at householders selling in 2023 who had bought their homes in the past 20 years. It found those who had bought a property within this timeframe and sold it last year sold for an average of GBP102,650 more than they paid. This was down from a record gross profit of GBP112,930 in 2022, according to the research, which used Land Registry data. In percentage terms, the average seller in England and Wales last year made a 48% gain, down from 54% in 2022.

The decrease in average gains is partly due to small house price falls last year, but also because more households moved home sooner, researchers said.

 

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