The average UK property sells for £25,000 below asking price

 
The average UK property sells for £25,000 below asking price [Photo: iStock/roberthyrons]

The average property in the UK is not getting owners as much as they expect when it comes time to make the sale, according to a new survey carried out this week by property portal Zoopla. 

In its survey, Zoopla compared what owners are expecting to be able to sell their home for when they first bring it to market, and what it actually goes for, and it was discovered that as many as a third of homes are being discounted. 

The number of homes being discounted from their original asking price sits at 31.6 per cent, and while this is down from 33.43 at the end of last year, it still indicates that owners are not getting what they want when they come to market. 

According to the results of the survey, the average home is reduced in price by £24,989, giving buyers a sizeable discount when they do eventually seal a deal. 

Discounts are most prominent in the north of England, with the data showing that seven of the top ten areas in terms of the number of homes discounted are in the north. In addition to this, all of the top ten highest average discounts are recorded in the north, showing the divide that exists nationwide. 

Lawrence Hall, spokesperson for Zoopla said that it's encouraging that the number of homes being reduced in price has fallen over the past few months, but added that the average reduction in price has actually climbed in the same period, but this is not a negative for everyone. 

"This is still good news for those looking to get onto the property ladder. With some thorough research first time buyers could be in with a better chance of spotting a bargain by filtering their property searches by most reduced and set up email alerts to help them be the first to know about homes that have been discounted," he said.