London sale profit tops average house price

10 March 2020

The Times

The average cost of a house in London was £471,950 while outside London it was £202,900. About 73,000 people used that extra value to leave the city, many staying in the south, with 32 per cent moving to places close to London in the southeast and 31 per cent to the east of England.

Londoners generally sold after ten years of ownership, having bought in 2009 when property prices were low after the financial crash and selling after large gains, according to analysis by Hamptons International and LonRes estate agencies. In 2018 those selling up made an average profit of £237,190.

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