The number of properties offloaded by landlords fell to a seven-year low in 2020 as the coronavirus crisis meant investors had limited opportunities to sell up, research has found.
Across Britain, an estimated 131,900 properties were sold by landlords in 2020, marking the smallest number since 2013, according to estate agents Hamptons.
Looking just at England and Wales, the average landlord selling up last year had owned their home for just over nine years and sold for £82,450 or 42% more than they had paid for it, the research found.
In London, the average landlord selling up last year sold their property for £302,200 or 71% more than they originally paid for it, having owned the property for nearly 10 years on average.
Despite the sizeable gross profit, typically landlords who sold in London last year made a smaller sum than those who sold in 2016, when they made an average gain of £364,960.
Last year, the average Kensington and Chelsea landlord sold their property for £784,980 more than they paid for it.
