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TODAY'S OTHER NEWS

Revealed: the part of Britain where homes sell 6% above asking price

The latest quarterly house price report published by property portal s1homes reveals that properties across Scotland sell on average at six per cent above their asking price.

Analysis of data for April to June shows that on average buyers north of the border are willing to pay up to £9,000 more for a property than its asking price suggested.

Sellers of flats, terraced houses and semi-detached houses across Scotland are achieving above the asking price, with flats typically selling for £25,000 more, while terraced houses on average sell for £21,000 more and semi-detached houses for £7,000 more.   

However, the difference between what sellers hope to sell their properties for and the price they achieve goes well in the other direction for detached houses, with the average selling price almost nine per cent below the average asking price. 

This means that, on average, buyers can typically purchase detached houses for £25,000 less than the initial asking price.

Glasgow and Edinburgh continue to be hot spots, with properties typically selling for £22,000 and £23,000 above their asking price - although in each case that’s a reduction of £5,000 respectively from previous quarter figures.

The portal compares the asking prices of over 20,000 properties for sale on s1homes with the actual prices achieved as recorded by the official government agency, Registers of Scotland.

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