Sellers hit as house price gains reach record low

House price gains when selling a property have dropped from their 2022 peak and are now at record lows in percentage terms.

New research suggests the average household in England & Wales sold their home for £91,820 more than they paid for it in 2024, having owned it for 8.9 years.

This figure has fallen by £10,830 since 2023 and is down from a peak of £112,930 in 2022 when strong house price growth pushed gross gains, before any costs, into six figures for the first time.

Despite lower price gains last year, 91% of households selling up nationwide achieved more than they paid, according to the research by Hamptons.

Last year, the average seller in England & Wales sold their home for 42% more than they paid, down from a 48% increase in 2023.

In percentage terms, returns from property have fallen to the lowest level since at least 2015, the agent said.

There were, of course, regional variations.

Sellers in every region of the country saw their returns fall between 2023 and 2024.

However, Londoners recorded the biggest decrease in cash terms. The average 2024 seller in London saw the value of their property rise by £172,350 since purchase, £31,840 lower than those who sold in 2023. Estate Agent Today