Flipping Well: buy and sell within a year makes £30k on average.
Those who bought and sold the same property in 2018 made an average of £30,150 - but the number who do ‘flip’ homes has plummeted by historical standards.
An analysis by Hamptons International shows that the number of homes sold more than once within a 12-month period has fallen dramatically since its peak in 2004.
Last year 18,630 homes were flipped in the UK and North of Ireland, some 69 per cent less than the 60,340 homes flipped in 2004.
Flippers now make up a smaller part of the housing market compared to historic standards: in 2004, 4.8 per cent of homes sold in UK and North of Ireland were flipped within 12 months, whereas last year the proportion was just 2.1 per cent.
The average ‘flipper’ sold their property for £30,150 more than they paid for it, pre-tax.
Despite the current market difficulties, this figure equates to a 22 per cent average gain in just a year or less - but again, this is below the 32 per cent average gain made in 2004.
The number and proportion of homes flipped has fallen in every region since 2004 but unsurprisingly London saw the biggest drop in the number of homes flipped since 2004.