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TODAY'S OTHER NEWS

Average sale price is £13k below asking, new survey shows

The proportion of the asking price achieved on average in the past year is 95.8 per cent according to a new survey.

Comparison website GetAgent - analysing data from property portals cross-referenced with HM Land Registry and relating to England and Wales - says there are significant regional variations but that on average this discount means sellers get some £13,300 below their original average asking price of £319,789.  

The best performing location in terms of sale price almost matching asking price has been Sheffield on 99.2 per cent. 

Bradford (98.6 per cent), Salford (98.5 per cent), Trafford (98.4 per cent) and Manchester (98.2 per cent) also come close, indicating a sought-after market in the north west of England. 

Torfaen, Nottingham, Redditch, Rugby, Wigan, Bury, Dartford, Cardiff, Rushcliffe and Gedling also perform well as some of the best markets to have been a home seller in the last year.

At the other end of the table Gwynedd and Westminster - despite having very different local markets - have both seen the average home sell for just 92.5 per cent of asking price in the last year. 

Camden (93.1 per cent), Kensington and Chelsea (93.1 per cent) and Blackpool (93.5 per cent) have also seen some of the lowest percentages of asking price achieved.

Where the biggest monetary reduction in asking prices are concerned, the 15 largest are almost all located in London and the south of England.

Kensington and Chelsea ranks top with home buyers paying £87,408 less than the original asking price, followed by Westminster (£71,436) and Camden (£54,643)

“With buyer demand now flooding the market, the pendulum should shift back towards the seller and we should see the asking price achieved breach the 100 per cent mark in a number of areas once again” predicts GetAgent founder and chief executive Colby Short.

Ranked: Highest percentage of asking price achieved across England and Wales in the last 12 months

Location

Average Asking Price

Average Percentage of Asking Price Achieved

Average final price

Asking vs Sold Price

Sheffield

£186,583

99.2%

£185,042

-£1,541

Bradford

£59,923

98.6%

£59,061

-£862

Salford

£194,760

98.5%

£191,795

-£2,966

Trafford

£251,935

98.4%

£247,921

-£4,014

Manchester

£203,626

98.2%

£199,868

-£3,758

Torfaen

£198,002

98.1%

£194,251

-£3,751

Nottingham

£204,702

98.0%

£200,633

-£4,069

Redditch

£269,557

98.0%

£264,127

-£5,430

Rugby

£273,995

97.9%

£268,357

-£5,638

Wigan

£166,511

97.8%

£162,907

-£3,604

Bury

£233,409

97.8%

£228,305

-£5,103

Dartford

£359,869

97.7%

£351,416

-£8,453

Cardiff

£262,902

97.6%

£256,685

-£6,217

Rushcliffe

£340,265

97.6%

£332,135

-£8,130

Gedling

£241,917

97.6%

£235,999

-£5,919

England and Wales

£319,789

95.8%

£306,486

-£13,303

Ranked: Lowest percentage of asking price achieved across England and Wales in the last 12 months

Location

Average Asking Price

Average Percentage of Asking Price Achieved

Average final price

Asking vs Sold Price

Gwynedd

£200,556

92.5%

£185,421

-£15,135

Westminster

£957,430

92.5%

£885,994

-£71,436

Camden

£792,808

93.1%

£738,165

-£54,643

Kensington and Chelsea

£1,274,175

93.1%

£1,186,767

-£87,408

Blackpool

£119,199

93.5%

£111,498

-£7,701

Conwy

£216,863

93.9%

£203,594

-£13,269

Preston

£141,865

94.1%

£133,468

-£8,397

City of London

£609,627

94.1%

£573,549

-£36,078

Copeland

£134,024

94.1%

£126,093

-£7,931

South Staffordshire

£409,478

94.1%

£385,274

-£24,204

Runnymede

£554,157

94.1%

£521,517

-£32,640

Barrow-in-Furness

£140,762

94.2%

£132,577

-£8,185

Fylde

£244,676

94.2%

£230,538

-£14,138

Hertsmere

£571,399

94.3%

£538,545

-£32,854

Richmond upon Thames

£565,286

94.3%

£532,857

-£32,429

England and Wales

£319,789

95.8%

£306,486

-£13,303

Ranked: Highest monetary reduction on original asking price across England and Wales in the last 12 months

Location

Average Asking Price

Average Percentage of Asking Price Achieved

Average final price

Asking vs Sold Price

Kensington and Chelsea

£1,274,175

93.1%

£1,186,767

-£87,408

Westminster

£957,430

92.5%

£885,994

-£71,436

Camden

£792,808

93.1%

£738,165

-£54,643

Chiltern

£661,131

94.3%

£623,657

-£37,474

Elmbridge

£640,654

94.4%

£604,477

-£36,177

City of London

£609,627

94.1%

£573,549

-£36,078

Barnet

£640,796

94.5%

£605,789

-£35,007

Islington

£646,446

94.6%

£611,572

-£34,874

Guildford

£643,907

94.7%

£609,847

-£34,060

Hertsmere

£571,399

94.3%

£538,545

-£32,854

Runnymede

£554,157

94.1%

£521,517

-£32,640

Hillingdon

£573,312

94.3%

£540,791

-£32,521

Richmond upon Thames

£565,286

94.3%

£532,857

-£32,429

Wandsworth

£652,682

95.3%

£622,202

-£30,480

Hammersmith and Fulham

£536,514

94.4%

£506,454

-£30,060

England and Wales

£319,789

95.8%

£306,486

-£13,303

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