A new study suggests that the average UK landlord who sold off a rental property in 2017 made almost £87,000 in profit.
In recent days, a report published by estate and lettings agency Countrywide has revealed the extent of profits enjoyed by investors-turned-sellers up and down the country.
The group’s latest Lettings Index reveals that landlords who decided to sell off rental properties last year brought in impressive gains ranging from £253,981 in London to £40,381 in the West Midlands and £23,874 in North East England.
On average, landlords enjoyed gains of £86,651 – with 88 per cent of landlords managing to sell their home for more than they initially paid for it and 14 per cent successfully ‘doubling their money’.
Commenting on the research, Johnny Morris, Research Director at Countrywide, said that unprecedented house price growth had driven investor gains over the period.
“Landlords selling in 2017 owned their homes for nearly nine years. In eight of those last nine years, house prices have risen,” he said.
“Even in areas where price growth has lagged behind, most landlords have made a profit from rising prices.
“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,” he added.