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2018 Quarter 3

Flats

In this quarter flats continue to sell above their asking price, on average around £33,000 more, which is £7,000 more than the previous period due to the average selling price rising by over £6,000 to £143,303 whilst the average asking priced slightly dropped from £111,547 to £110,416.

Quarter No of properties Avg asking price (s1homes) % change Avg selling price (ROS)*
Q4 (2017) 7,819 £108,432 -1.65% £136,031
Q1 (2018) 8,132 £109,148 0.66% £137,747
Q2 (2018) 9,125 £111,547 2.20% £137,021
Q3 (2018) 9,386 £110,416 -1.01% £143,303
 
 

Terraced houses

Terraced houses are on average selling for almost £25,000 more than the asking price. The average asking price increased by around £1,000 to £121,152 while the average selling price had a notable growth of 3%, rising from £141,258 in the previous quarter to £145,962 in Q3.

Quarter No of properties Avg asking price (s1homes) % change Avg selling price (ROS)*
Q4 (2017) 2,097 £121,594 -1.56% £142,159
Q1 (2018) 2,245 £121,996 0.33% £141,784
Q2 (2018) 2,364 £120,245 -1.44% £141,258
Q3 (2018) 2,347 £121,152 0.75% £145,962
 
 

Semi-detached houses

In this quarter, semi-detached houses sold for on average £11,000 over their asking price, around £4,000 more compared to the previous period. The average asking price and the average selling price both increased by £2,000 and £6,000 respectively.

Quarter No of properties Avg asking price (s1homes) % change Avg selling price (ROS)*
Q4 (2017) 2,500 £153,784 -1.19% £163,525
Q1 (2018) 2,954 £155,437 1.07% £162,804
Q2 (2018) 3,236 £155,241 -0.13% £162,465
Q3 (2018) 3,174 £157,031 1.15% £168,221
 
 

Detached houses

Detached houses are the only properties where a Reality Gap exists, with houses selling for less than expected. The Reality Gap narrowed in Q3 and buyers are now on average paying £19,000 less than a property’s asking price, whilst in the previous quarter they were paying on average £25,000 less.

This is due to the marginal decrease of the average asking price by 0.2% and the increase of the average selling price by over £5,500 to £263,451.

Quarter No of properties Avg asking price (s1homes) % change Avg selling price (ROS)*
Q4 (2017) 4,581 £281,980 2.31% £255,175
Q1 (2018) 4,759 £283,642 0.59% £258,687
Q2 (2018) 5,189 £283,378 -0.09% £257,918
Q3 (2018) 5,106 £282,914 -0.16% £263,541