London landlords who sold their property in 2017 gained an average £253,981 – over four times more than the average landlord selling outside the capital.
In fact, one in four landlords who sold their home in the capital did so for at least twice what they paid for it an average of 8.1 years ago, according to Countrywide’s lettings index.
The average UK landlord who sold their rental property in 2017 made a gain of £86,651. Meanwhile, landlords in the north east made the smallest gains, £23,874, over 10 times less than a landlord in the capital.
Johnny Morris, research director at Countrywide, said: “House price growth has driven investor gains. Landlords selling in 2017 owned their homes for nearly nine years. In eight of those last nine years house prices have risen.
“London continues to see the greatest falls in the stock of available homes to rent, on the back of reduced investor activity, this scarcity of supply is driving rental growth.”
|Region||Average profit (purchase price – sale price)||Proportion of sellers making a profit||Proportion of sellers doubling their money|
|London||£ 253,981||96 per cent||28 per cent|
|South East||£ 108,073||97 per cent||15 per cent|
|East||£ 84,265||94 per cent||13 per cent|
|South West||£ 57,249||91 per cent||11 per cent|
|West Midlands||£ 40,381||85 per cent||11 per cent|
|East Midlands||£ 38,776||87 per cent||12 per cent|
|North West||£ 34,519||80 per cent||12 per cent|
|Yorkshire and the Humber||£ 32,671||78 per cent||11 per cent|
|Wales||£ 30,938||79 per cent||13 per cent|
|North East||£ 23,874||75 per cent||9 per cent|
|England & Wales||£ 86,651||88 per cent||14 per cent|