Average house now selling for just under 4% below asking price according to Zoopla
The latest research from Zoopla reveals property sales values are sliding further from asking prices, with the average home in England and Wales now being sold for 3.86% under the price it was originally marketed for.
In the news article published last week by Zoopla they also revealed that the asking-to-selling price gap is 0.32% bigger than last year. Homes in the south east currently sell closest to the asking price – just a 3.06% reduction – while homes in Wales sell furthest from their original listed price at 5.87% below the initial figure.
The report states: Vendors in the capital are now securing an average sold price of 4.09% under the asking price – this is close to the UK-average disparity but a much bigger gap than the 1.96% recorded last year.
Lawrence Hall, spokesperson for Zoopla, said: “It’s unsurprising that properties in the south of the country are currently selling closest to their original asking price, as demand for homes in the capital and its surrounding commuter belt remains high.
“However, it’s interesting to note that these same areas are the ones that have seen sale values slip furthest from the asking price over the past year, which is perhaps reflective of a slight slowdown in market activity in and around London.”
Read the news report fom Zoopla dated 1st December 2017 in full click here.
You May Also Enjoy
What does latent defects insurance cover?
Breaking Property News – 24/04/24
An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker
Understanding Property Valuation: A Simple Guide
Aberdeen is cheapest city to be a first-time buyer