LONDON PROPERTY RESEARCH PRESS
64% of London new-build flat buyers lost money when they resold so how did some make substantial profits?
An analysis of 10,000 sales reveals what they did differently
Updated 2026 Edition
They acted on clear signals that most people ignore.
The analysis reveals a number of important things:
1) There are large differences in the profit made when new-build flats are resold, even between flats in the same development.
2) Buyer decisions have a dramatic effect on the likelihood of profit. For example, in 90% of developments, buying at launch prices — which can rise within a day — makes profit around five times as likely as buying at subsequent prices.
3) The wider property market is not a primary driver of profit nor is location — but micro-location is. Flats with micro-location advantages make an average 9% profit while flats without them make an average 14% loss. Less than 10% of flats in the analysis had micro-location advantages.
This buyer’s guide reveals the reasons why flat values increase by analyzing actual resales of the same flats in the highest quality, new-build developments launched to the market between 2015 to 2026.
Use the findings before you buy to identify the types of flats most likely to increase in value.
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See inside the Guide
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Buyers assume new-build flats rise in value over time
An analysis of 10,000 sales from 2015 to 2026 shows that profit outcomes diverged markedly when new-build flats were resold.
Why do resale profits vary so much? The study identifies the factors associated with these differences and shows their chance of profit, average profit and range of profit.
An example of a factor
A simple example of a factor is buying a flat after the first phase of a multi-phase development, which in the analysis was the case for most of the buyers in that type of development.
The effect on profitability of this factor is based on developers initially pricing their flats attractively to build traction in sales. The more flats they can sell in a shorter period of time after the initial launch of a development the quicker they can increase prices and the larger those price increases tend to be. The analysis shows that the effect of this factor on resale profitability is dramatic.
10 out of every 11 buyers that bought in later phases lost money when they resold their flats. Even among those who made money, the upside was limited compared with all flat buyers.
What you get in the study
Same flat resale profit outcomes
Profit after Stamp Duty and adjusted for inflation
The factors that drive increases and decreases in value
The probability the factors will result in profit, their average profit and range of profit
Clear tables you can use
This is not a get-rich-quick guide to property investment but rather a clear, evidence-based examination of a market where expectations and reality often diverge
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About the author
Ramsey Sapper has over 30 years’ experience investing in the London property market. He co-founded IMM Chameleon Ltd, which provided global property-marketing technology and services to major UK residential developers. He holds degrees in Computer Science and Management Science from Imperial College London.
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