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2018 Quarter 4

Flats

In this quarter flats continue to sell above their asking price, on average around £31,000 more, which is £2,000 less than the previous period due to the average selling price decreasing by £2,000 to £141,121 whilst the average asking price remained stable.

Quarter No of properties Avg asking price (s1homes) % change Avg selling price (ROS)*
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
Q4 (2018) 8,321 £110,129 -0.26% £141,021
 
 

Terraced houses

Terraced houses are on average selling for £23,000 more than the asking price. The average asking price increased by around £1,500 to £122,579 while the average selling price has remained without significant changes at around the £145,000 mark.

Quarter No of properties Avg asking price (s1homes) % change Avg selling price (ROS)*
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
Q4 (2018) 2,096 £122,579 1.18% £145,605
 
 

Semi-detached houses

In this quarter, semi-detached houses sold for on average £4,000 over their asking price, around £7,000 less compared to the previous period. This was driven by the increase by almost 3% of the average asking price to £161,644, reflecting sellers pricing more realistically, and the drop of the average selling price by around £2,500 to £165,801.

Quarter No of properties Avg asking price (s1homes) % change Avg selling price (ROS)*
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
Q4 (2018) 2,712 £161,644 2.94% £165,801
 
 

Detached houses

Detached houses are the only properties where a Reality Gap exists, with houses selling for less than expected. The Reality Gap remained the same in Q4 with buyers on average paying £19,000 less than a property’s asking price.

This is due to the increase of the average asking price by 0.8% and the increase of the average selling price by over £2,000 to £265,759.

Quarter No of properties Avg asking price (s1homes) % change Avg selling price (ROS)*
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
Q4 (2018) 4,549 £285,162 0.79% £265,759