10% drop in profit for landlords selling up

LANDLORDS selling up this year will typically make around £10,500 less than they would have done had they sold in 2022.

- Vicky Shaw

In recent months, on average buy-to-let properties in England and Wales have been sold for £94,800 more than was initially paid for the property, estate agent Hamptons have found.

This assumes the landlord has owned it for the average of 11 years.

The gain has shrunk by around 10% or £10,500 from the record £105,300 achieved last year.

It is similar to what landlords selling in 2016 typically achieved.

The gains, calculated using Land Registry records, do not include tax and other charges, which would eat into any profits.