In a recent study conducted by moving platform Getamover, researchers have identified the UK areas where homes are consistently selling above their listed prices. The analysis, based on historical Zoopla data, considered the average sale price, average listing price, and the difference between the two.
East Renfrewshire emerged at the top of the list, with homes fetching an average of £272,187, surpassing the initial listing price of £235,479. This signifies a substantial average increase of £36,708, making it the area with the highest number of properties sold above the list price in the UK.
East Dunbartonshire secured the second position, with an average selling price of £262,979 compared to the listed price of £228,824. The average difference between the sale and listing prices in this area is £34,155.
Cambridge claimed the third spot, where homes command an average price increase of £31,662 over the initial listing. The average sale price in Cambridge stands at £779,219, while properties are listed at around £747,557.
Edinburgh secured the fourth position with an average selling price of £329,514, showcasing a price increase of £30,627 over the listed price of £298,887. Completing the top five is East Lothian, where homes typically sell for £29,456 more than their average listed price of £255,219, reaching an average sale price of £284,675.
In contrast, the City of London sees homes sold at an average of £807,500, lower than the listed price of £849,983, indicating a reduction of £42,483.
Manchester, on the other hand, is experiencing a positive trend, with homes selling at an average of £6,711 above the listed price of £228,138.
Top 10 UK Areas with Homes Selling Above List Price
- East Renfrewshire – £36,708
- East Dunbartonshire – £34,155
- Cambridge – £31,662
- City of Edinburgh – £30,627
- East Lothian – £29,456
- Stirling – £27,872
- City of Glasgow – £27,564
- South Ayrshire – £21,017
- Kensington and Chelsea – £19,818
- Argyll and Bute – £19,394
David Burrows, the head of Getamover, noted, “Typically in the UK, the best time to purchase or sell a property is during spring or summertime. By avoiding the colder winter and autumnal months, the risk of having to move during adverse weather conditions like snow and ice is less likely, making a more seamless completion of the sale and getting you in or out of your new home in no time.”
Burrows also highlighted the intriguing finding that, despite being the most populated city in the UK, London struggles to sell homes above the original list price compared to areas like Manchester and Glasgow. Additionally, he emphasized the impact of seasons on house prices, noting higher prices during spring and summer months, particularly in July, when the market sees an influx of buyers, eliminating the need for discounts.