Majority of Homeowners Sold At Profit In 2022 – You Can Do So In 2023

Original source: ML Estates

Majority of Homeowners Sold At Profit In 2022 – You Can Do So In 2023

While there are many things to consider with the housing market, one thing many people look for or care about is making a profit. Many factors influence your ability to generate profit, so it isn’t always easy to do, but there are steps to follow which make turning a profit easier or more accessible.

At ML Estates, we are local estate agents in West Hampstead and surrounding areas. We are pleased to say we offer an extensive range of services to connect your home with buyers and ensure you sell at the best possible price.

We note with interest, according to Zoopla, 97% of property sellers made a profit in 2022. The average profit earned in the sales process was £67,000. There is no denying the impact of the Covid-19 pandemic on the housing market, with considerable demand among buyers.

London leads the way

In London, the average house property price was £522,000; as you expect, there were winners and losers in the capital. The area which experienced the highest increase in property prices was West London, with an average gain of £145,000. The area with the lowest property gain was Dartford, which profited £94,625.

This is still a more significant gain than many regions experienced as their best increase, so it is essential to consider the London housing market as a separate thing. This has long been the case, so you should always call on a specialist estate agent with reliable local knowledge in your area or the area you wish to move in.

Average profit made from property sale in 2022

It is no surprise to learn the more prominent the house, the greater the opportunity for profit. In 2022, the average profit from the sale of a detached house was £118,475, and for a semi-detached property, the average property was £73,000. With a terraced house, the average property was £59,950; for a flat, the average profit was £30,000.

How to sell your home at profit in 2023

We have a strong track record in assisting homeowners to sell their houses in the best possible manner. Here are some tips to consider when selling your home at a profit in 2023:

First impressions are everything: Make sure the exterior of your home is tidy and inviting. Trim the hedges, mow the lawn, and plant flowers to create a warm and welcoming atmosphere.

Declutter and depersonalise: Before putting your home on the market, it's vital to declutter and depersonalise the space. This will help potential buyers envision themselves living in the space.

Make necessary repairs: If any outstanding maintenance need to be made, such as leaky faucets or broken tiles, take care of them before listing your home.

Stage your home: Consider hiring a professional stager to make your home look its best. They can help rearrange furniture and add decor to create a cohesive and inviting space.

Price your home correctly: Work with your estate agent to determine a fair and reasonable price based on current market trends and comparable properties in your area.

Use high-quality photos and videos: In today's digital age, having high-quality photos and videos is essential to attracting potential buyers. Consider hiring a professional photographer to capture your home in its best light.

Be flexible with showings: Make sure your home is easily accessible for potential buyers to view. This may mean being flexible with your schedule and allowing for last-minute showings.

Work with a reputable estate agent: Choose an estate agent with a proven track record of success in your area. They can help guide you through the selling process and ensure you get the best possible price for your home.

We can help with all these steps, but the last point is where we shine! Call us today to discuss your property.

Contact ML Estates to better manage your rental property

At ML Estates, we are keen to help you manage your property, and we offer a wide range of services. We can arrange a property valuation for you, and we can help you connect with tenants. If you’re a North West London landlord looking to let property, contact us today for more information about our property management services. Call ML Estates on 020 7328 4444 to discuss your requirements.