London has emerged as the part of the UK where property sellers are most likely to make a loss when completing a sale.
According to Hamptons estate agency, in 2025 around 14.8% of London sellers sold for less than they initially paid, marking a notable increase compared with previous years.
The share of loss-making sales has decreased in parts of the North, highlighting a reversal in fortunes between Northern and Southern England.
In the North East, for instance, the proportion of sellers making a loss has more than halved over the past decade, falling from 29.9% in 2019 to 17.7% in 2024, and down to 13.9% in 2025.
London’s rising figure has been largely driven by flat owners. Flats accounted for 60% of London sales in 2025 but represented 90% of properties sold at a loss, up from 78.4% in 2019.
The following table shows the share of sellers receiving less than they paid for their property across regions in 2019 and 2025:
| Region | 2019 | 2025 |
| London | 9.2% | 14.8% |
| North East | 29.9% | 13.9% |
| South East | 7.3% | 9.0% |
| South West | 8.8% | 8.3% |
| North West | 15.4% | 8.1% |
| Yorkshire & Humber | 14.5% | 8.0% |
| East of England | 5.7% | 7.9% |
| West Midlands | 8.9% | 6.9% |
| East Midlands | 7.6% | 6.7% |
| Wales | 12.2% | 6.2% |
| England & Wales | 10.0% | 8.7% |
At a local authority level, eight of the ten areas where sellers were most likely to sell at a loss were in London. Tower Hamlets recorded the highest rate, with 28.2% of sellers making a loss.
Other London boroughs with high loss rates included the City of London (26.2%), Kensington & Chelsea (22.4%), Westminster (22.1%) and Hammersmith & Fulham (20.8%). Meanwhile, Barking & Dagenham, London’s cheapest borough, had just 5.3% of sellers selling below purchase price.
House owners in London fared far better than flat owners, achieving an average gain of 59.6% over 10.3 years compared with 35.4% for flats over a similar 10.1-year period. London house sellers were more than six times less likely to make a loss than flat sellers (3.5% vs 22.2%).
Sellers in Southern England (South East, South West, East of England) were also among the most likely to sell at a loss, although their average gains were generally smaller than in 2024. In contrast, sellers in Northern regions saw stronger average gains.
The average difference between purchase and sale price for sellers across England and Wales is shown below:
| Region | 2024 Sellers (£) | 2025 Sellers (£) | YoY Change (£) |
| London | 172,350 | 172,510 | 160 |
| South East | 116,560 | 108,030 | -8,530 |
| South West | 96,090 | 91,890 | -4,200 |
| East | 100,270 | 97,130 | -3,140 |
| East Midlands | 71,530 | 70,730 | -800 |
| West Midlands | 72,980 | 76,220 | 3,240 |
| North East | 38,220 | 41,140 | 2,920 |
| North West | 64,830 | 70,520 | 5,690 |
| Yorkshire & Humber | 60,380 | 62,180 | 1,800 |
| Wales | 66,710 | 68,120 | 1,410 |
| England & Wales | 91,830 | 91,260 | -570 |
The strong growth in house prices across Northern England has resulted in higher gains for sellers there compared with Southern regions. In 2025, the average seller in the North West achieved a 45.4% increase in value over their ownership period, higher than London (44.6%), South East (38.3%), South West (39.5%) and East of England (39.5%).
Midlands and Northern England sellers are now among the least likely to sell at a loss. Of the 20 local authorities where sellers were least likely to sell below their purchase price, only two were in Southern England.
Harlow in the East of England had the lowest proportion of sellers making a loss in 2025 at just 0.8%, followed by High Peak in Derbyshire (1.7%) and Broxtowe in Nottinghamshire (2.3%).
Overall, the data highlights the growing disparity between Northern and Southern England, with London flats remaining the riskiest for sellers, while properties in the Midlands and North offer a more secure investment.
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