{"id":7959,"date":"2017-12-05T14:49:30","date_gmt":"2017-12-05T14:49:30","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=7959"},"modified":"2017-12-05T14:49:30","modified_gmt":"2017-12-05T14:49:30","slug":"the-gap-between-asking-price-and-selling-price-in-uk-is-growing","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/news\/the-gap-between-asking-price-and-selling-price-in-uk-is-growing\/","title":{"rendered":"The gap between asking price and selling price in the UK is growing"},"content":{"rendered":"

Homes are selling for an average 3.86% less than the asking price, with sellers in Wales having the least realistic expectations.<\/strong><\/p>\n

The asking-to-selling-price gap has risen by 0.32% since last year, according to research from Zoopla, although Yorkshire and the Humber<\/a> has seen the gap close by 0.54% over the past year to 4.34%.<\/p>\n

Bristol was the town that came out top for having the most realistic expectations, with a 1.9% difference between sold price and asking price between August 2016 and September 2017 – although the gap was still 0.87% higher than the previous 12-month period. This was followed by Sheffield (2.07%), Coventry (2.09%) and Reading<\/a> (2.42%).<\/p>\n

The town with the biggest gap between asking and selling price was Bradford at 6.32%, although this was an improvement of 0.70% on the previous year. After this, Preston <\/a>(6.24%), Swansea<\/a> (5.87%) and Newcastle Upon Tyne (5.19%) had the biggest disparities.<\/p>\n

When separated into broader regions, Wales<\/a> overall had the biggest asking-to-selling-price gap, with homes selling for 5.87% less than they were advertised at.<\/p>\n

The south-east of England as a region was selling closest to the asking price at an average 3.06% below.<\/p>\n

Double-sided coin<\/h4>\n

Lawrence Hall, spokesperson for Zoopla, said: “It\u2019s unsurprising that properties in the south of the country are currently selling closest to their original asking price, as demand for homes in the capital <\/a>and its surrounding commuter belt remains high.<\/p>\n

“However,\u00a0it’s\u00a0interesting to note that these same areas are the ones that have seen sale values slip furthest from the asking price over the past year, which is perhaps reflective of a slight slowdown in market activity<\/a> in and around London.”<\/p>\n

Last month, it was revealed by Rightmove that more than a third of sellers had been forced to drop their asking prices in October – equivalent to \u00a32,392.<\/p>\n

But buying agent and market commentator Henry Pryor said he was not worried by the state of the housing market<\/a>, and believes the fluctuations are an overdue correction that will be welcomed by some.<\/p>\n

“The housing market is a double-sided coin,” he said. “On the one hand, there are rising house prices;\u00a0but on the other side of the coin there is the buyer, for whom lower prices are a good thing. This national obsession with ever-rising house prices<\/a> is not something I subscribe to.”<\/p>\n

He also said on Twitter than his clients had actually paid as much as 11% less than asking price<\/a>.<\/p>\n

https:\/\/twitter.com\/HenryPryor\/status\/937577438036492288<\/p>\n","protected":false},"excerpt":{"rendered":"

Homes are selling for an average 3.86% less than the asking price, with sellers in Wales having the least realistic expectations. The asking-to-selling-price gap has risen by 0.32% since last year, according to research from Zoopla, although Yorkshire and the Humber has seen the gap close by 0.54% over the past year to 4.34%. Bristol… Read more »<\/a><\/p>\n","protected":false},"author":1069,"featured_media":7971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4,6],"tags":[33,341],"class_list":["post-7959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-uk-housing-market","tag-house-prices","tag-newsletter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/7959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=7959"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/7959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/7971"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=7959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=7959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=7959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}