Research by Zoopla has shown that the average home in England and Wales is being sold for almost £11,000 less than the asking price. Final sale prices have slipped 0.32% year-on-year, with vendors in Wales the worst off – where homes are now being sold for 5.87% less than the original list price. Across the UK, accepted offers are, on average £10,623 less than the originally advertised price.
From a regional perspective, properties in the notoriously expensive South East of England are selling closest to the amount advertised – having dropped just 0.83% on last year. This is followed by the East of England at 0.76% and the West Midlands at 0.46%. In London, however, final sale prices have slid a huge 2.13% in the past year – knocking £24,875 off the asking price.