Sheffield one of best places in the country to sell a house for its asking price
Sheffield is the second-best place in the country to sell a house for its asking price, new research has revealed.
Zoopla, which compared asking prices with selling prices using data from its website and from the Land Registry, has ranked areas across the country for the difference between asking price and selling price.
Here are the top 10 cities in the study with the smallest difference between the asking price and the selling price typically over the past year, according to Zoopla:
1. Bristol, 1.9 per cent
2. Sheffield, 2.07 per cent
3. Coventry, 2.09 per cent
4. Reading, 2.42 per cent
5. Birmingham, 2.63 per cent
6. Manchester, 2.76 per cent
7. Southampton, 2.95 per cent
8. Northampton, 3.06 per cent
=9. York, 3.14 per cent
=9. Norwich, 3.14 per cent
But the story is very different across the country, with house sellers across England and Wales typically agreeing sales at around £10,000 less than the asking price.
On average, properties are selling for 3.86 per cent less than the asking price – equating to £10,623 in cash terms – Zoopla found.
A year ago, sales were typically being agreed at 3.54 per cent less than asking prices.
Looking regionally, properties in the South East of England are selling closest to the asking price – at 3.06 per cent below typically – suggesting sellers are holding firm.
At the other end of the spectrum, buyers in Wales may find they have more room for negotiation, the research suggests.
Sellers in Wales typically face the biggest gap between what they want and what they will get, with homes there selling at 5.87 per cent under the asking price on average.
Lawrence Hall, a spokesman for Zoopla, said that while there have been some recent signs of a slowdown in market activity in and around London, “demand for properties in the capital and its surrounding commuter belt remains high”.
Zoopla’s data covered England and Wales as well as looking at trends in the 25 largest urban areas.
It found that properties in Bristol have been selling at the closest to their asking price over the past year, while the biggest gap was found in Bradford.
Here is the percentage difference between sellers’ asking prices and selling prices by region over the past year, according to Zoopla. Regions are ranked from the smallest percentage gap to the biggest:
1. South East England, 3.06 per cent
2. East of England, 3.16 per cent
3. West Midlands, 3.35 per cent
4. South West England, 3.59 per cent
5. East Midlands, 3.79 per cent
6. London, 4.09 per cent
7. Yorkshire and the Humber, 4.34 per cent
8. North West England, 4.46 per cent
9. North East England, 5.53 per cent
10. Wales, 5.87 per cent
And here are the top 10 cities in the study with the biggest difference between the asking price and the selling price typically over the past year, according to Zoopla:
1. Bradford, 6.32 per cent
2. Preston, 6.24 per cent
3. Swansea, 5.87 per cent
4. Newcastle-upon-Tyne, 5.19 per cent
5. Bolton, 4.92 per cent 6. Doncaster, 4.78 per cent
7. Hull, 4.08 per cent 8. Derby, 4.06 per cent
9. Leicester, 3.89 per cent
10. Plymouth, 3.82 per cent
Mortgage Advice in Sheffield – http://sheffieldmoneyman.com