41% of homes have sold at a loss since 2007

In Greater London, 71% of properties sold for more than the purchase price

Around 41 per cent of homes – roughly 130,000 properties in England and Wales - have been sold at a loss since the peak of the property market in 2007. That figure rises to 48 per cent for properties in the North of England.

According to new figures from Castle Trust based on more than 17 million transactions, the average loss was £24,430, or 11 per cent of the average house price. Over the same period, 56 per cent of homes sold for a profit (averaging £45,199).

Homeowners who sold at a loss said their reasons were to purchase a new home at a good price (18 per cent), divorce/separation (14 per cent), the need to get a bigger property (13 per cent) and relocating for work (12 per cent). Another 11  per cent said they were forced to because they couldn’t afford the mortgage repayments and 8 per cent because of losing a job/redundancy. 

Looking to the future, 13 per cent of homeowners now fear they may be forced to sell their current home for less than the purchase price, rising to 25 per cent for those aged 18-34.

Sean Oldfield, chief executive officer, Castle Trust said: "Since the downturn, over 130,000 families have made a loss on their home placing them under enormous financial and emotional pressures. When you take into account the costs associated with moving home, from stamp duty to solicitor’s fees, this situation becomes even worse.

“It is clear that individual house prices are really volatile and that home ownership is risky, much more risky than almost everyone appreciates."

Since 2007, the number of homes sold for less than the purchase price was highest in Yorkshire & Humber, where 48.2 per cent of properties sold for a loss and 48 per cent for a profit. In contrast, the highest proportion of homes sold at a profit over this period was in Greater London, where 71 per cent of properties sold for more than the purchase price and 26 per cent for less.

Discover more property articles at Homes and Property
Property search
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Service Delivery Manager

Negotiable: Recruitment Genius: A Service Delivery Manager is required to join...

Recruitment Genius: Massage Therapist / Sports Therapist

£12000 - £24000 per annum: Recruitment Genius: A opportunity has arisen for a ...

Ashdown Group: Practice Accountant - Bournemouth - £38,000

£32000 - £38000 per annum: Ashdown Group: A successful accountancy practice in...

SThree: Trainee Recruitment Consultant

£18000 - £23000 per annum + Uncapped commission: SThree: Does earning a 6 figu...

Day In a Page

The saffron censorship that governs India: Why national pride and religious sentiment trump freedom of expression

The saffron censorship that governs India

Zareer Masani reveals why national pride and religious sentiment trump freedom of expression
Prince Charles' 'black spider' letters to be published 'within weeks'

Prince Charles' 'black spider' letters to be published 'within weeks'

Supreme Court rules Dominic Grieve's ministerial veto was invalid
Distressed Zayn Malik fans are cutting themselves - how did fandom get so dark?

How did fandom get so dark?

Grief over Zayn Malik's exit from One Direction seemed amusing until stories of mass 'cutting' emerged. Experts tell Gillian Orr the distress is real, and the girls need support
The galaxy collisions that shed light on unseen parallel Universe

The cosmic collisions that have shed light on unseen parallel Universe

Dark matter study gives scientists insight into mystery of space
The Swedes are adding a gender-neutral pronoun to their dictionary

Swedes introduce gender-neutral pronoun

Why, asks Simon Usborne, must English still struggle awkwardly with the likes of 's/he' and 'they'?
Disney's mega money-making formula: 'Human' remakes of cartoon classics are part of a lucrative, long-term creative plan

Disney's mega money-making formula

'Human' remakes of cartoon classics are part of a lucrative, long-term creative plan
Lobster has gone mainstream with supermarket bargains for £10 or less - but is it any good?

Lobster has gone mainstream

Anthea Gerrie, raised on meaty specimens from the waters around Maine, reveals how to cook up an affordable feast
Easter 2015: 14 best decorations

14 best Easter decorations

Get into the Easter spirit with our pick of accessories, ornaments and tableware
Paul Scholes column: Gareth Bale would be a perfect fit at Manchester United and could turn them into serious title contenders next season

Paul Scholes column

Gareth Bale would be a perfect fit at Manchester United and could turn them into serious title contenders next season
Inside the Kansas greenhouses where Monsanto is 'playing God' with the future of the planet

The future of GM

The greenhouses where Monsanto 'plays God' with the future of the planet
Britain's mild winters could be numbered: why global warming is leaving UK chillier

Britain's mild winters could be numbered

Gulf Stream is slowing down faster than ever, scientists say
Government gives £250,000 to Independent appeal

Government gives £250,000 to Independent appeal

Donation brings total raised by Homeless Veterans campaign to at least £1.25m
Oh dear, the most borrowed book at Bank of England library doesn't inspire confidence

The most borrowed book at Bank of England library? Oh dear

The book's fifth edition is used for Edexcel exams
Cowslips vs honeysuckle: The hunt for the UK’s favourite wildflower

Cowslips vs honeysuckle

It's the hunt for UK’s favourite wildflower
Child abuse scandal: Did a botched blackmail attempt by South African intelligence help Cyril Smith escape justice?

Did a botched blackmail attempt help Cyril Smith escape justice?

A fresh twist reveals the Liberal MP was targeted by the notorious South African intelligence agency Boss