One in three home sellers in London are doubling their money.
One in three people who sold their home in London this year doubled their money, according to research by Hamptons International.
They sold up after an average of around nine years, over which time house price growth has soared. It came as separate analysis by eMoov found that demand for homes in the capital has sunk 25pc this year, amid a crunch on affordability.
Hamptons found that in Kensington and Chelsea, the average home sale made its owners a profit of £940,494, with 45pc of owners doubling their money.
Johnny Morris, head of research at Hamptons, said: “House prices have grown considerably over the nine years the average seller has owned their home. Many sellers will have added value by renovating, extending or developing but the bulk of their gains come from price growth.”
One in three home sellers in London are doubling their money