Home sellers’ £88,000 profit

THE average profit when selling a property was £88,470 last year – down from £90,580 in 2017, figures show.

Research from estate agent Hamptons International found that 91 per cent of sellers across England and Wales made a profit in 2018, having owned their home for an average of nine years. However, those in London and the South East were less likely to profit in 2018 than in the year before.

In upmarket Kensington and Chelsea the average profit was £992,340 – over 11 times the average. Outside the capital, there were large percentage gains in North Tyneside, Harrogate and the Vale of Glamorgan.