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Flats in Scotland Selling Significantly Above Asking Price

Flats in Scotland are selling significantly above their asking price according to the latest Scottish House Price Report, released by s1homes.

Flats are generally selling for £11,000 more than their asking price, though it should be noted that average selling price did fall for a second quarter.

The report shows the average asking price for one-bedroom flats to have fallen slightly this quarter, whilst the average asking prices for two and three-bedroom flats having increased by 0.89% and 1.79% respectfully.

Terraced houses are selling at approximately £7,000 more than their asking price with the average selling price having decreased by £3,500 to £123,809.

When it comes to semi-detached properties the average selling price of £142,383 is approximately £5,000 less than the average asking price of £147,150. Since Quarter three of 2013, the average selling price of semi-detached properties has dropped by approximately £10,000.

Detached properties are selling for in excess of £35,000 less than their asking price of £270,233. Also, both the average asking price and average selling price having fallen in Quarter 4 to £270,233 and £234,602 respectfully.

Overall, both the average asking price and average selling price of property in Scotland continued to fall with the average selling price deceasing by more than £6,000 to £153,352 and the average asking price dropping by over £1500 to £161,208. The report shows that generally, properties in Scotland are selling for approximately £8,000 less than their asking price.

Contact Our Property Lawyers

Our property lawyers are based in Glasgow and can help you with buying or selling all types of property. Whether it’s a flat, terrace, semi-detached or detached property, please complete our enquiry form or call 0141 530 1544.