Property owners who purchased their current home within the last 20 years are sitting on an average of £80,000 in property value gains, outlining the vast capital appreciation that’s occurred over that period, Zoopla analysis shows.
House prices have risen by 78% in the past 20 years.
London homeowners in particular have profited from substantial gains, as 71% of those who sold last year did so with a profit of more than £65,000.
On the other end of the scale, average gains in the North East and Scotland are lower, typically sitting between £40,000 and £45,000.
Izabella Lubowiecka, senior property researcher at Zoopla, said: “Millions of UK homeowners are sitting on tens of thousands of pounds in property value gains since they moved into their current home, despite recent falls in house prices.
“Whilst house prices fell or grew modestly in London in recent years, there are areas, such as Richmond, where the market has fared much better. In the North West, Trafford has seen similar growth, due in part to its close proximity to Manchester and popularity with families looking to move out of the city.
“For many, meaningful capital gains can provide important financial support for their next home move. Those thinking of selling should get their property valued sooner rather than later, they never know, they could be sitting on a small fortune.”
