Last updated on November 7th, 2020 at 09:06 pm
So far in 2019, those who have sold their houses in Sheffield S7, where the average asking price is just under £296,000, have achieved the highest prices compared to the asking price, at 104.09 percent. Properties in five other Sheffield postcode areas – S2, S8, S10, S11 and S18 – have also been selling for over 100% of the asking.
This is much higher than the average selling price being achieved across England and Wales, which is currently 95.95% of the asking price. Only 0.8% of properties being sold across England and Wales have achieved their asking price.
Despite indications that the housing market in central London is bouncing back, the percentage of asking price being achieved for properties in the Kensington and Chelsea postcode area of SW10, where the asking price is almost £1.9 million, is the lowest at 89.33%. Properties in the Westminster postcode area of SW1V, where the average asking price is just over £1.3 million, is not far behind on 89.91%.
Of the top ten postcode areas in which properties have been selling for over 100% of the asking price, eight of them are in the north of England and in the bottom ten performing postcodes, nine are in and around London, with Copeland in Cumbria making up the bottom ten.
Graysons’ conveyancer, Katie Bacon, says:
“This is great news for those in the postcode areas in Sheffield where more than 100% of the asking price is being achieved. However, achieving the average of almost 96% of the asking price is reasonable, bearing in mind how difficult the market has been and the fact that many are still concerned about the effect that Brexit will have on the housing market in general.”
Author: Katie Bacon, conveyancer.