Home Property Home sellers are achieving 96 per cent of asking price

Home sellers are achieving 96 per cent of asking price

by LLP Reporter
31st Jul 19 2:13 pm

Research by estate agent comparison website GetAgent.co.uk has revealed the areas in England and Wales where home sellers are achieving the best and worst prices in comparison to the initial asking prices listed for properties for far in 2019.

The website’s research shows that across England and Wales, home sellers are currently securing an average of 95.94% of asking price on their property, with just 0.8% of postcodes acheiving asking price or higher.

Sheffield properties under the outcide S7 are the most profitable for home sellers, who typically gain 104.09% of the average asking price of £295,862.

Dartford properties in the outcode DA1 are the next best, with home sellers gaining 102.67% of the average asking price of £300,448, while homes in another Sheffield outcode S11 are close behind, securing sellers 102.19% of the typical asking price, which is £330,596.

The average selling price in Bexley’s DA8 outcode is 101.39% of the average asking price of £296,004, and is followed by yet another area in Sheffield; properties under the S8 outcode see sellers receiving 101.36% of a typical asking price of £201,946.

The other best outcodes for home sellers include Salford’s M6 – with sellers gaining 101.29% of the average asking price – and Havering’s RM3, which sees sellers securing 101.09%.

Sheffield continues to populate the list, with selling prices in the area’s S10 and S2 outcodes at 100.58% and 100.35% of the average asking prices, respectively. Trailing by the finest of margins is the S18 outcode in North East Derbyshire, which rounds out the list of best areas at 100.34%.

Meanwhile, despite many signs that the market in prime central London is bouncing back, the capital’s high-end homesellers have struggled with some of the worst postcodes where the ratio of asking to sold price is concerned.

Kensington and Chelsea is currently the worst area in England and Wales for home sellers when it comes to price achieved, as homes in the SW10 outcode see sellers receiving just 89.33% of the asking price of £1,886,212.

Home sellers in Westminster’s SW1V will also struggle slightly, securing 89.81% of the typical asking price of £1,324,206. Closely behind are properties in the NW8 outcode in Camden, where sellers will gain 90% of the £2,210,888 average asking price.

Kensington and Chelsea rears its head again as the average selling price in the W11 outcode offers home sellers just 90.09% of the typical asking price of £2,447,446, while SW13 in Richmond upon Thames sees sellers gaining 90.53 of the £1,411,109 average asking price.

Kensington and Chelsea appears two more times, with properties in the area’s W8 and SW3 outcodes securing home sellers 90.58% and 90.63% of the respective asking prices.

The NW1 outcode on the border of Westminster and Camden proves slightly more advantageous for sellers, gaining them 90.72% of the typical asking price, while homes in NW3 between Camden and Barnet are slightly better yet, seeing sellers receive 90.74%.

LA18 in Copeland is the only area outside of London to make the top 10 worst, as home sellers can look to gain just 90.95% of the average asking price, however at £126,596 this loss is much lower than the other entries on the list of worst areas.

Founder and CEO of GetAgent.co.uk, Colby Short said, “The current state of the UK property market really depends on whether you are a glass half full or half empty home seller.

“On the face of it, rather tough conditions with less than 1% of postcodes in England and Wales achieving asking price or above.

“However, given the position we currently find ourselves in, with Brexit still dragging on and many having predicted the complete downfall of the market, it’s perhaps not as gloomy as we’ve been led to believe.

“The vast majority of those looking to sell are still securing upwards of 95% of their price expectations and this is far from a kick in the teeth in any market.”

Rankings – by highest % of asking price gained
Location Outcode Ave asking price % of asking price gained
Sheffield S7 £295,862 104.09
Dartford DA1 £300,448 102.67
Sheffield S11 £330,596 102.19
Bexley DA8 £296,004 101.39
Sheffield S8 £201,946 101.36
Salford M6 £169,580 101.29
Havering RM3 £355,686 101.09
Sheffield S10 £309,002 100.58
Sheffield S2 £126,119 100.35
North East Derbyshire S18 £256,519 100.34
Rankings – by lowest % of asking price gained
Location Outcode Ave asking price % of asking price gained
Kensington and Chelsea SW10 £1,886,212 89.33
Westminster SW1V £1,324,206 89.81
Camden NW8 £2,210,888 90.00
Kensington and Chelsea W11 £2,447,446 90.09
Richmond upon Thames SW13 £1,411,109 90.53
Kensington and Chelsea W8 £2,727,357 90.58
Kensington and Chelsea SW3 £2,713,027 90.63
Westminster / Camden NW1 £1,220,468 90.72
Camden / Barnet NW3 £1,824,240 90.74
Copeland LA18 £126,596 90.95

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