The difference between a property’s selling price and the amount it is actually sold for has increased, new figures show.
Research released by the National Association of Estate Agents (NAEA) reveals that such a gap increased over the course of August to stand at 11 per cent as the housing market begins to strengthen.
Such differences were particularly dramatic with semi-detached homes, which despite having a typical asking price of £261,131, sold for some 12 per cent below at £234,975.
However, those Britons looking to further drive the amount their property is sold for may wish to consider carrying out DIY.
Meanwhile, Colin Shairp, of the NAEA’s Solent region branch, claimed that a rise in sales in the area has created a shortage in supply.
This, he states, means "that buyers can no longer automatically knock ten per cent off the asking price – now the discounts they seek are less than five per cent and shrinking".
Signs of the strengthening housing market were also seen in recent Hometrack figures revealing a 0.1 per cent increase in property prices last month, the first rise to have been seen in over two years.