Seventeen percent of flips in the North East were bought for £40,000 or less and incurred no stamp duty. The region also had the highest share of flipped transactions, at 3% in 2025. Hartlepool had the highest share nationally at 7.4%, compared with 0.5% in Brentwood.
Completed flips as a share of total transactions by region in 2025
Sources: Hamptons, Land Registry
Homes bought for under £100,000 were most likely to make a profit in 2025, with 86% doing so. This fell to 28% for purchases above £350,000. Average returns were 45.8% below £100,000 and negative above £350,000. Most flips (88.8%) were bought for less than £350,000.
“Flipping is no longer the profitable venture it once was,” said Aneisha Beveridge (pictured right), head of research at Hamptons. “There was a time when rundown properties could be bought cheaply, refurbished, and resold at a healthy margin. Today, however, second home stamp duty absorbs nearly half of all gross profits, significantly eroding returns.
“The surcharge was not primarily intended to penalise ‘house flipping’; its primary aim was to support first-time buyers. While it has largely succeeded in that goal, it has left flipping unviable across much of the South of England. These projects deliver much-needed move-in-ready homes, sparing buyers the financial risks and expertise to undertake major works themselves.”