In this quarter, flats continue to sell above their asking price, on average around £23,000 more, which is £8,000 less than the previous period due to the average selling price decreasing by £5,000 to £136,054 whilst the average asking price increased by 2.91%.
| Quarter | No of properties | Avg asking price (s1homes) | % change | Avg selling price (ROS)* |
|---|---|---|---|---|
| Q2 (2018) | 9,125 | £111,547 | 2.20% | £137,021 |
| Q3 (2018) | 9,386 | £110,416 | -1.01% | £143,303 |
| Q4 (2018) | 8,321 | £110,129 | -0.26% | £141,021 |
| Q1 (2019) | 7,952 | £113,332 | 2.91% | £136,054 |
Terraced houses are on average selling for £12,500 more than the asking price. The average asking price increased by over £4,000 to £126,686 while the average selling price fell by 4.5% to £139,168.
| Quarter | No of properties | Avg asking price (s1homes) | % change | Avg selling price (ROS)* |
|---|---|---|---|---|
| Q2 (2018) | 2,364 | £120,245 | -1.44% | £141,258 |
| Q3 (2018) | 2,347 | £121,152 | 0.75% | £145,962 |
| Q4 (2018) | 2,096 | £122,579 | 1.18% | £145,605 |
| Q1 (2019) | 2,086 | £126,686 | 3.35% | £139,168 |
In this quarter, semi-detached houses sold for on average £1,000 over their asking price, around £3,000 less compared to the previous period. This is driven by 1.7% growth of the average asking price to £164,375, reflecting sellers pricing more realistically, while the average selling price remained static at the £165,000 mark.
| Quarter | No of properties | Avg asking price (s1homes) | % change | Avg selling price (ROS)* |
|---|---|---|---|---|
| Q2 (2018) | 3,236 | £155,241 | -0.13% | £162,465 |
| Q3 (2018) | 3,174 | £157,031 | 1.15% | £168,221 |
| Q4 (2018) | 2,712 | £161,644 | 2.94% | £165,801 |
| Q1 (2019) | 2,820 | £164,375 | 1.69% | £165,716 |
Detached houses are the only properties where a Reality Gap exists, with houses selling for less than expected. The Reality Gap widened in Q1 with buyers on average paying £26,000 less than a property’s asking price.
This is due to the marginal decrease in the average asking price by 0.3% and the decrease of the average selling price by over £8,000 to £257,462.
| Quarter | No of properties | Avg asking price (s1homes) | % change | Avg selling price (ROS)* |
|---|---|---|---|---|
| Q2 (2018) | 5,189 | £283,378 | -0.09% | £257,918 |
| Q3 (2018) | 5,106 | £282,914 | -0.16% | £263,541 |
| Q4 (2018) | 4,549 | £285,162 | 0.79% | £265,759 |
| Q1 (2019) | 4,434 | £284,283 | -0.31% | £257,462 |
