Latest data shows sellers are achieving 96 per cent of their homes asking price.
Research by Get Agent, the leading estate agent comparison platform, has revealed the areas in England and Wales where home sellers are achieving the best and worst prices. In comparison to the initial asking prices listed for properties in 2019.
The results show homeowners selling up, across England and Wales, are currently securing an average of 95.94 per cent of asking price on their property.
Only 0.8 percent of postcodes achieve the full asking price, in some cases even higher.
The postcodes outperforming the national average
Sheffield properties, with the S7 postcode are the most profitable. Homes in this area typically gain 104.09 per cent of the average asking price of £295,862.
Dartford properties in DA1 are the next best, with home sellers gaining 102.67 per cent of the average asking price of £300,448. Homes in another Sheffield area, S11 follow close behind, securing sellers 102.19 per cent of the typical asking price of £330,596.
The average selling price in Bexley’s DA8 is 101.39 per cent of the average asking price of £296,004. Followed by yet another area in Sheffield; properties under the S8 outcode see sellers receiving 101.36 per cent of a typical asking price of £201,946.
Other positive postcodes for home sellers include Salford’s M6 and Havering’s RM3.
Meanwhile, despite signs that the market in London is bouncing back, the capital’s high-end homeowners have struggled. It’s home to some of the worst postcodes, where the ratio of asking to sold price is concerned.
Kensington and Chelsea is currently the worst area in England and Wales for home sellers, when it comes to achieving the asking price. Homes in SW10 saw sellers receiving just 89.33 per cent of the asking price of £1,886,212.
‘The current state of the UK property market really depends on whether you are a glass half full or half empty home seller,’ says Colby Short, Founder and CEO of Get Agent.
‘On the face of it, rather tough conditions. Less than 1 per cent of postcodes in England and Wales are achieving asking price or above. However, given the position we currently find ourselves in, with Brexit still dragging on and the predicted downfall of the market, it’s perhaps not as gloomy as we’ve been led to believe.’
Coby goes on to say, ‘ The vast majority of those looking to sell are still securing upwards of 95% of their price expectations and this is far from a kick in the teeth in any market.’