The latest data from estate agent comparison site, GetAgent.co.uk, has revealed how the property market in England and Wales has performed over the last year when it comes to the percentage of asking price being achieved.
GetAgent’s data shows that nationally, home sellers have secured 95.8% of their initial price expectation, with the average home selling for £13,303 below the original asking price of £319,789.
Some areas have performed much better though and in Sheffield home sellers have achieved 99.2% of their original asking price, the best price achieved of all areas of England and Wales.
Bradford (98.6%), Salford (98.5%), Trafford (98.4%) and Manchester (98.2%) join Sheffield as some of the best areas for asking price achieved, with this north-west property corridor seemingly impervious to wider market influences over the last 12 months.
At the other end of the table, Gwynedd and Westminster have both seen the average home sell for just 92.5% of the asking price in the last year. However, with both markets home to considerably different property values, this equates to a £15,135 reduction on the average property in Gwynedd, while in Westminster it means a far higher discount of £71,436.