Home 'Flipping' In The UK Reaches 12-Year High

The proportion of homes in England and Wales that have been bought, renovated and sold again within a short period has hit a 12-year high, with Burnley in Lancashire topping the list of properties most commonly “flipped”. So far this year, one in every 40 homes sold were bought and sold within 12 months, according to research from estate agent Hamptons International using Land Registry data, the most since 2008. In Burnley, it was about one in 12. Despite the coronavirus pandemic, which brought the housing market to a standstill for several weeks, Hamptons predicts that about 23,000 homes will be flipped this year, up from 20,857 last year, and investors are on track to make greater profits. Read more on the Guardian website.

https://www.theguardian.com/business/2020/nov/23/home-flipping-in-the-uk-reaches-12-year-high-despite-covid-crisis