Increased Demand Sees Most Sellers Achieve the Asking Price For Their Home

23 Sep, 2014

Latest numbers from Hometrack show that the number of properties selling for their asking price in England and Wales hit a 10-year high in March at 96.2%.

These numbers are up from 93.5% a year ago, 95.3% in January and 95.8% in February, according to the latest trend analysis.

In London, virtually all properties were selling for at least at the full asking price in March.

The numbers were equally impressive in other UK regions including the East Midlands at 95.8% , East Anglia it 95.7% and Yorkshire & Humberside where it was 95.5%.
Nationally, the average time it takes a property to sell has also come down during the first quarter of 2014. In January and February it took eight weeks, while the March figure of 7.9 weeks was the shortest average selling time recorded for over six years.

The reason for changes and the fact that house prices moved up by 0.6% in March, compared to the previous month is purely down to the demand for housing outstripping supply.