New Research Reveals Properties In The UK Sold For £10,000 Greater Than The Original Asking Price

New research from TwentyEA reveals that over the last 12 months, properties across the UK achieved an average selling price of 2.5% above the original instruction price, giving vendors an extra £10,000.

TwenyEA’s latest property price data for June 2022 shows that the average price of a home has hit £400,000. The market does not appear to be slowing down, despite homeowners facing increased pressure on their finances, thanks to the cost of living crisis.

Properties in the South West remain popular with home buyers, showing the strongest rates of house price growth over the last 12 months, with asking prices sitting at 18.24%, while growth in inner London is lagging, with the slowest rate of growth at 7.9%.

Wales is seeing the second highest asking price growth at 17.64%, followed by the West Midlands at 16.48% and the North East at 16.4%.

TwentyEA: Asking Prices Year on Year

UK Region Initial Asking Price June 2022 Initial Asking Price June 2021 Percentage Increase
East Midlands £317,188 £279,468 13.5%
East of England £465,324 £417,575 11.43%
Inner London £980,375 £908,706 7.9%
North East £214,044 £183,955 16.4%
North West £283,459 £244,208 16.07%
Northern Ireland £199,556 £177,586 12.37%
Outer London £593,217 £539,700 9.91%
Scotland £233,236 £211,325 10.4%
South East £553,223 £482,512 14.7%
South West £447,479 £378,463 18.24%
Wales £299,183 £254,324 17.64%
West Midlands £337,768 £289,979 16.48%
Yorlshire & The Humber £275,967 £239,981 15%

The research shows that asking prices have risen by an average of 11% over the last 12 months and by 20% since 2019.

The TwentyEA research also reveals that average time to exchange on a property has risen dramatically, with June 2022 figures showing it is sitting at 136 days (4.5 months), 47% higher than the 92 days in June 2019. The time to exchange is measured by the lag in days between the last sale agreed date and the exchanged date.

Stuart Ducker, Strategic Solutions Director of TwentyEA comments: “Our analysis shows that despite soaring inflation and interest rate increases, property prices are still rising across the UK, with eight regions of the UK experiencing year on year asking price increases of more than 13%.

“While rising prices are good news for vendors, the average time to exchange is taking much longer, due to the lack of supply and delays in the chain forming.  If vendors get a sale agreed on their property, it takes much longer to find somewhere they want to live.”

TwentyEA are experts in the UK home mover market, providing smart, specific and intelligent home mover data and insight to help agents better understand the challenges of the industry – and crucially how to apply this knowledge to leverage brand power.

TwentyEA holds the UK’s biggest and richest resource of factual life event data including the largest, most comprehensive source of home mover data compiled from more than 29 billion qualified data points.

TwentyEA’s customer intelligence and engagement solutions leverage data and technology on agent’s behalf, enabling them to connect with target consumers using unique data insights into the key life events that stimulate customer demand.

TwentyEA is part of the TwentyCi group of companies who use data science to improve commercial outcomes for clients.

For further information please visit https://news.twentyea.co.uk or email enquiries@twentyea.co.uk.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Estate Agent Talk

Will the ‘Our Future Homes’ report address the needs of an ageing population?

Will the ‘Our Future Homes’ report address the needs of an ageing population? By Kevin Shaw at Leaders The government recently published an independent report, ‘Our Future Homes’, which considers our ageing population and looks at how housebuilders can meet the wants and needs of older people. It is widely acknowledged that not enough new homes…
Read More
Breaking News

Zoopla: Over a quarter of parents ‘lie or break rules’ to get children into their preferred school

Admission Impossible: Over a quarter of parents admit to ‘lying or bending’ rules to get their children into preferred schools Over a quarter (27 per cent) of UK parents admit to flouting the rules to get their children into schools, rising to 38 per cent in London The number who admit lying is on the…
Read More
Breaking News

Government planning reforms to protect nature

News that the Government has warned that the planning system must protect nature, as it unveils reforms Partner Alison Ogley, Freeths commented: “This is a potential game changer addressing the current inertia in the system, providing a solution that is more effective than individual developers trying to address environmental improvements on a project by project…
Read More
Love or Hate Rightmove
Breaking News

Surge in demand for investment sector as interest rates drop

The latest insights from the UK’s number one commercial property website Rightmove reveals that there has been a surge in demand to invest in commercial property compared with the same period a year ago, as interest rates drop following the second Bank Rate cut. The trend marks a continued recovery for the investment sector as…
Read More
Letting Agent Talk

7 Ways Self Storage Supports Business Growth in 2025

As businesses face increasing challenges in managing costs, scaling operations, and adapting to changing markets, self storage has emerged as an indispensable tool for success. Whether you’re a small startup or an established multinational company, self storage offers a practical, affordable, and secure way to handle the demands of modern business. As businesses grow, they…
Read More
Estate Agent Talk

How much would Bridget Jones’ iconic London apartment cost today?

How much would Bridget Jones’ iconic London apartment cost today? A new study has revealed that the average price to purchaseBridget Jones’ iconic London apartment in the Borough Market area is now £415,090. The study calculated that this is a price increase of 182% since the first film premiered in 2001. The research obtained data…
Read More