Taylor Scott International News
Average asking prices across Scotland increased by £2,000 and the average selling price increased by over £8,500 to £162,122 in the second quarter of the year, narrowing the gap between the two to less than 1%. Flats continue to sell above their asking price typically selling for around £18,000 more, up from £11,000 last quarter, according to the latest index from s1homes. This means that the average selling price for flats increased by over £8,500 to £126,844 while the average asking price rose by around £1,500 to £108,472. Both the average asking and average selling price of terraced houses increased this quarter, up by £4,000 and £9,000 respectively. Terraced houses on average sell for £11,000 more than their asking price up from £7,000 in the previous quarter. This quarter the average selling price for a terraced property has increased and is once again higher than the average asking price. It increased by over £8,000 to £150,458. There is less than £1,000 of a difference between the average asking price and average selling price this quarter. Detached houses are the only property type where a Reality Gap exists and this has remained at 13% for a second consecutive quarter as both the average asking and selling prices increased. Typically detached houses sell for £37,000 less than their asking price. A breakdown of the figures shows that in Argyll and Bute the Reality Gap has narrowed significantly from £47,000 to £28,000 driven by the increase in the average selling price. The average selling price increased by £21,000 to £156,495. In Ayrshire the average selling price has increased by £10,000, narrowing the Reality Gap to £21,000, down from £31,000 last quarter. For a second consecutive quarter the average asking price remains relatively static at £146,336. The Reality Gap has narrowed in East Lothian where on average properties are selling for £27,000 below their asking price compared with almost £36,000 in the previous quarter. The average selling price has increased by £15,000 to £209,349. In East Renfrewshire, the Reality Gap has narrowed to 6.5% with properties on average selling for £16,000 less than their asking price. Both the average asking price and average selling price have increased, rising by £9,000 and £16,500 respectively. In Edinburgh, properties are once again typically selling for more than their asking price. This quarter both the average asking price and average selling price increased, the average asking price by £6,000 and the average selling price by £12,500. In Falkirk, the Reality Gap has narrowed from £24,000 to £15,000 despite the average asking price increasing by £4,500 as the average selling price increased by over £13,500. The Reality Gap in Fife has widened slightly this quarter with properties typically selling for around £11,000 less than their asking price. The average asking price and average selling price this quarter both increased by around £2,000. In Glasgow/Dunbartonshire both the average asking price and average selling price have increased by £3,500 and £3,000 respectively. The Reality Gap remained at 5% with properties typically selling for almost… Taylor Scott International
Taylor Scott International, Taylor Scott
