Propertymark has welcomed the latest figures from Zoopla, demonstrating that those who sold a detached home in 2023 gained approximately £137,000 overall in contrast to the initial asking price.
As part of the research, Zoopla analysed more than 100,000 Land Registry entries from 2023, and transaction records were matched with prior transactions made two decades ago.
The findings revealed that those residing in a detached home left, on average, 10 years between moves, and upon doing so, gained an average £137,000 from sale.
Nathan Emerson, CEO at Propertymark, said: “It is encouraging to see that people were still making money from selling their homes last year even if those levels of house price growth were lower than they have been in the past.
“The housing market went through a period of correction in 2023 following higher inflation and interest rates. However, 2024 is shaping up to be a brilliant year for the housing market so far.
“Our member agents recently reported a 120% increase in the number of potential buyers registered, which shows they are adapting to adjusted prices on the housing market and taking advantage of the latest house prices to purchase their dream home.”
