With the current coronavirus crisis, selling a house might not be at the forefront of many people’s minds. But data suggests that the best time to sell is between the months of March and June — AKA now.
Of course, timing isn’t everything to consider and new research has shed light on some of the best and worst areas for selling houses at the moment.
GetAgent.co.uk has pulled data from major property listing portals and cross-referenced them with the Land Registry’s proprietary algorithms to see which areas have performed the best and worst, in regards to sales.
The worst place to sell a house right now is…
The findings show that Copeland in western Cumbria ranked as the worst place to have sold in the UK over the past year with just 72.7 per cent of sellers achieving their asking price. Some of the other areas which performed badly were Pendle (at 74 per cent), Pembrokeshire (at 74.3 per cent per cent) and Burnley (at 75.1 per cent).
On the flip side of things, the best place to have sold a home was Preston where sellers achieved an average sold price of £214,325 — 121 per cent of the average asking price of £177,177.
Kingston Upon Hull appears to be another great place to sell, with the average sale 120.9 per cent of the average asking price of £118,857. Other top performing areas were Sheffield, Southampton, Barking and Dagenham, Northampton, Newham, Sunderland and Wigan.
In the capital, Haringey, Islington, Hammersmith and Fulham, Tower Hamlets, Ealing, Hillingdon, Brent, Bexley, Sutton, Lewisham and Waltham Forest all saw the average sold price exceed the average asking price. But the City of London, on the other hand, saw just 78.9 per cent of asking price achieved, along with Camden (at 81.9 per cent) and Westminster (at 84.8 per cent).
For the UK on the whole, the average sold price came in at 96 per cent of the average asking price — which is only a drop of 4 per cent from seller price expectations.