House sellers pocket an average profit of £95,000

Sellers made an average profit of £95,000 when they sold their homes last year. According to research by Hamptons, detached houses sold for £151,840 more than their owners paid for them, while for flats it was £54,690, on average. A record 92% of sellers sold their home for more than they paid for it, having owned the property for an average of 8.8 years. The researchers found that the average seller in England and Wales who bought a property within the past 20 years and sold it last year made a 46% gross profit of £95,360, up from £83,550 the year before. But the average figures disguise a more nuanced picture, with one in five flat-sellers and 4% of detached-house-sellers actually making a loss on their property. The Times (£)