Weaker price growth is pulling property gains back towards pre-pandemic levels, according to Hamptons. The firm says that the amount of money sellers make from their homes has been shrinking since the market peaked in 2022.

In 2024, the average household in England & Wales sold their home for £91,820 more than they paid for it, 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.

In percentage terms, returns from property have fallen to the lowest level since at least 2015, when Hamptons began compiling the data. Last year, the average seller in England & Wales sold their home for 42% more than they paid, down from a 48% increase in 2023.

Property gains peaked in 2016 when the average home sold for 60% more than its purchase price. Most of these 2016 sellers bought just after the financial crash, from which house prices generally recovered quickly, particularly in the South of England.

Regional variations
Sellers in every region of the country saw their returns fall between 2023 and 2024, says Hamptons. However, Londoners recorded the biggest decrease in cash terms, with the average 2024 seller in London seeing the value of their property rise by £172,350 since purchase, £31,840 less than those who sold in 2023. This marked the first time that property gains in the capital have fallen below £200,000 since at least 2015. This has been mainly driven by slower house price growth in London over the last decade. In percentage terms, the average London home sold for 44% more than its purchase price, a figure that’s been declining since peaking at 100% in 2016.