Lowest share of homes 'flipped' in a decade – stamp duty blamed

The share of homes bought and resold within 12 months - commonly referred to as ‘flipping’ - fell to its lowest level in more than a decade, according to research by Hamptons.

These properties are typically bought with the intention of being renovated and sold on at a profit. In 2025, just 1.5% of all transactions across England & Wales were flipped, down from 2.0% in 2024.

This marks the continuation of a long slowdown that began shortly after the introduction of the second-home stamp duty (SDLT) surcharge in 2016, during which the number of flipped homes has halved, from 21,520 in 2016 to just 10,570 in 2025.  Initially set at 3%, the surcharge was later raised to 5% in 2024, further eroding the returns that flipped properties once generated.  

Aneisha Beveridge from the estate agency Hamptons said: “Flipping is no longer the profitable venture it once was. 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 your gross profits, significantly eroding returns.”

• Does stamp duty need to be abolished?
• What are the pros and cons of stamp duty?
• What other consequences does stamp duty have other than reducing flipping?

Responses asap.