Average property selling for £10,000 over asking price, says Scottish portal

20/02/2018 09:45:24

Scottish portal s1homes.com has reported that the average property in Scotland sold for £10,000 higher than its asking price during the final quarter of 2017.

Analysing what it calls 'the Reality Gap', the portal calculated an average selling price of £176,063 at the end of 2017 compared to a typical asking price of £166,000.

The report shows that owners of semi-detached, terraced properties and flats are most commonly exceeding asking prices when they come to sell. 

The final quarter of last year saw the average flat sell for £27,000 more than its asking price, according to the website. 

“The demand for properties in Scotland has driven up the selling price across Scotland, more notably at the lower end of the market," says Ewan Stark, managing director, of s1homes.

"We fully expect the demand to continue to produce a competitive property market throughout 2018.”  

The full report including regional breakdowns is available here.

If you would like a free, no obligation, market appraisal of your home you can get in touch with your local branch here.

Credit: Estate Agent Today

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