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UK Property Sellers Earned £74K Average During 2023

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    Zoopla Reveals How Much Property Sellers Earned Throughout 2023

    While property prices stagnated during 2023 following an extended period of significant capital growth, property sellers still earned a substantial amount over the last 12 months.

    This comes from the latest piece of Zoopla research analysing sales figures and activity in the UK.

    Let’s look at the data in more detail and see how it could help you when buy-to-let investing.

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      What Did Zoopla Say About Seller Profits in the UK Property Market?

      According to Zoopla, the typical seller listed their property after owning it for about nine years. During this period, their homes brought in earnings ranging from £30,000 to £137,000, depending on location.

      In London, sellers pocketed £137,000 on average, equaling about £15,000 per year of ownership. Investors should keep in mind that properties in the capital are more expensive than anywhere else in the UK. The average property price in London, per HM Land Registry, is £508,037.

      On average, sellers of bungalows and detached homes made over £100,000. However, as a buy-to-let investor, you need to consider that demand for these properties has declined in recent years while urban apartments are increasing in popularity, which could affect property prices in the long term.

      Find Out More: For more insights, see our guides on buy-to-let property in London and new-build apartments in Liverpool.

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      Things to Consider to Earn the Most Profit on Your UK Property?

      You may want to consider a few things when selling a property to make a profit.

      Understand Timing Is Key

      According to the Zoopla Senior Property Researcher, Izabella Lubowiecka:

      ‘Generally, the longer someone lives in [or owns] a property, the more money they stand to make.

      ‘However, those who bought when property prices last peaked, just before the 2007 financial crisis, saw more modest gains than those who bought after, when house prices dipped.’

      As such, homeowners who have resided in their properties for a decade to fifteen years garnered around £89,000 on average.

      Discover More: Check out our guides on buying a rental property and how to build a property portfolio for more property investment insights.

      Think About Location

      The average home value in your neighbourhood also influences the amount you’ll earn from a sale, so investing in an area amid regeneration could see you make a more significant profit on your initial outlay.

      Sellers in the capital, who had owned properties for over 15 years, made more than £250,000 between sales. However, they would have needed to spend a lot more money on the property in the first place. For many investors, this is simply out of the question.

      Beyond London, homeowners who purchased their properties after the 2007 financial crisis, which instigated a correction in house prices, experienced the most significant increases in value.

      This plays into one of the most common investment strategies: buy cheap and sell for a profit.

      As you’d expect, doing this in areas with good-value properties and high capital growth potential is easier. So, while London offers an alluring potential profit, more savvy investors look further north.

      For instance, the North West has a capital growth prediction of 20.2% by 2028 – almost 7% higher than in London. In addition, the region is expected to see buy-to-let returns of 9.2% during the following year. It also has a higher average yield than London, which means investors will earn a more significant profit percentage based on their monthly rental income.

      If you want to dive into some buy-to-let area guides, check out the following:

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      UK Property Sellers Earned £74K Average During 2023

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      Dale Barham

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      Dale is a property news and onsite content writer at RWinvest.