London house prices: home sellers in the capital made average ?198k profit in 2021

According to new figures, Londoners who sold their homes by 2021 made an average of?197,730 gross profits. This is the highest average profit of any region in England or Wales. The average seller in 2021 bought their home in 2012, when house prices have risen by 55%. “However, 2022-2024 sellers will likely have bought more recently during a period with lower price growth. This is already happening in London, where the seller gains have been declining since 2016. This trend has already been observed in London, where seller gains have been falling since 2016. The North East of England was the least successful region in 2021. Only 78% of sellers made a profit. The North East of England was the least profitable region in 2021, with only 78% of sellers making a profit. Flat owners made a gross gain (29%) of?54700, while flat owners made a loss of?54,000 on their property.
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Ms. Beveridge stated that the house price boom of the past 18 months has pushed up the amount of money homeowners have earned …”House prices have risen mainly because of two factors: the length of ownership of a home and the date at which they purchased it in the housing cycle. “Typically, homeowners who own their homes for longer periods of time have seen greater price growth and thus made larger profits.