Teesside Areas Among Top Spots for Quick Home Resales

The proportion of homes being 'flipped' - bought and then re-sold within months - has hit a decade-low, with certain areas of Teesside still being popular for this practice. Property firm Hamptons analyzed Land Registry data to determine this trend. A flipped home is one bought and sold within a 12-month period.

In the first quarter of 2025, 2.3% of homes sold were flipped, the lowest since 2013. The average gross profit on a flipped property was £22,000. However, this profit has nearly halved since its peak in 2022 due to higher costs and slower house price growth.

The North East, particularly Redcar and Cleveland, remains a hotspot for flipping, with 4.7% of all homes sold in the first quarter of 2025 being bought within the previous 12 months. The Midlands, North of England, and Wales saw 61% of flipped properties this year, up from a decade ago.

London had the lowest proportion of flipped homes at 1.5%, attributed to higher stamp duty costs and weaker house price growth. Aneisha Beveridge of Hamptons noted that rising upfront costs have driven investors northward for better returns.

Here are the proportions of flipped homes by region and the average gross profit: North East, 4.7%, £14,250; Wales, 3.1%, £25,000; Yorkshire and the Humber, 3.0%, £18,995; East Midlands, 2.8%, £13,500; North West, 2.8%, £25,000; West Midlands, 2.5%, £25,000; South West, 2.2%, £20,000; East of England, 1.8%, £22,000; South East, 1.8%, £23,000; London, 1.5%, £59,000.

The local authorities with the highest proportions of flipped homes in Q1 2025 were Redcar and Cleveland, Co Durham, and Hartlepool in the North East, among others.

According to the source: Teesside Live.