Premium on Scottish properties slides but sellers are still getting 2.5% above asking price

The premium on Scottish properties has dropped during the start of 2019.

Figures show that homes in Scotland sold for an average of 2.5% above asking price during the first three months of the year.

This is down from a premium of 8.5% at the end of 2018.

Analysis by Scottish property portal s1homes for the first quarter of 2019 found sellers are achieving on average £4,000 more than they initially expected.

The report found the average asking price in the first three months of the year was £169,947, while the typical selling price was £174,317.

Flats are typically selling for £23,000 more, while terrace houses on average sell for £12,500 more and semi-detached houses for £1,000 more, the research found.

It is not such a good market for detached properties, though, with listings selling almost 9.5% below the average asking price. This means that, on average, buyers are securing sales for £26,000 less than the initial asking price.

There were regional differences, with homes in Edinburgh and Glasgow selling at an average £17,000 and £18,000 above asking price respectively.

In contrast, homes in East Renfrewshire typically had £22,000 discounts.

Esther Ballesteros, marketing manager for s1homes said: “The analysis shows that, despite uncertainty during this period, the Scottish property market remains strong, with sellers of most property types achieving or exceeding their asking prices.

“However, buyers are snapping up property for less at the higher end of the market where detached properties are still being priced unrealistically, leading to an ever-wider reality gap.”

https://www.s1homes.com/house-price-report/index.html

x

Email the story to a friend



Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.