The latest research from GetAgent.co.uk monitored how much properties across England and Wales sold for compared to their original asking prices. They found that, on average, estate agents achieved 96.7% of the asking price over the last six months (July to December 2023). This is only -0.5 % lower than the average for the first six months of the year.
In the North East, estate agents are getting the highest percentage of the asking price, with properties selling for 97.5% of the asking price on average. The North West and Yorkshire and the Humber followed closely behind, achieving 97.4% and 97.3%, respectively.
It is no surprise that the property market is performing well in the North West. Savills recently predicted the North West buy-to-let market to see returns of 9.2%. In addition, places like Liverpool, Burnley and Blackburn all appealed in Zoopla’s list of the highest-yielding areas in the UK.
See More: If you’re interested in North West property investment, check out our guides on new-build properties in Liverpool and the best place to invest in property.
In the West Midlands, agents are averaging 97% of the asking price.
Wales has the lowest average percentage of asking price achieved at 95.7%, but even so, agents are still doing well despite cooler market conditions.
London’s average home sells for 96.5% of the asking price, remaining steady over the past six months, unlike other regions where the percentage has dropped slightly.
The East Midlands saw the most considerable reduction in the average asking price achieved, dropping by just -0.9% over the last six months of 2023 compared to the first six months.
Find Out More: Thinking about getting into the UK off-plan property market? Be sure to speak to a reputable property investment company to find suitable developments that match your strategy.