Market remains hot with 99.4% of asking price

2022 is a good year for sellers, with the latest data revealing the average homeowner in England and Wales is achieving 99.4% of their asking price - this is up by 2.4% when compared to last year.

All data is found by GetAgent from analysing property listing portals and cross referencing them with the Land Registry. This allows us to see where sellers have achieved the best price for their property, compared to the price listed.

The current market is booming

Analysis of the current market revealed a 2.4% increase in asking price fulfilments in England and Wales compared to the previous year - altogether, a staggering 99.4%. Yet in no less than 41% of postcodes, sellers are achieving 100% or more of their asking price expectations.

The best performing postcodes

The highest level of asking price achieved in all postcodes in England and Wales was in Cornwall’s PL34 postcode. Research revealed that PL34 sellers are getting over 119% of their asking price so far in 2022 - with the area seeing the highest increase, up by 21.2%.

The other strongest performing postcodes have also enjoyed the highest yearly improvements. These are, BA10 in South Somerset (113.7%), LL24 in Conwy (112.8%), LL40 in Gwynedd (111.2%), HR5 in Herefordshire (110.5%), TA16 in South Somerset (110.3%), LL42 in Gwynedd (109.1%), SA66 in Pembrokeshire/Carmarthenshire (108.4%) and LL15 in Denbighshire (107.9%) - which are all home to the highest percentage of asking price attained. This percentage has increased between 12.4% and 19%, when compared to the year before.

To add, Birmingham’s B6 postcode also makes the top ten performing markets, with an asking price of 111.2%. But, the LL63 postcode in Anglesey has seen one of the highest yearly increases at 19.7%.

“Over 40% of sellers exceed original price set for properties” - GetAgent CEO Colby Short

“We’re yet to see a flurry of interest rate hikes dampen buyer appetites in 2022 and despite the wider economic backdrop, property market performance remains red hot across the vast majority of postcodes in England and Wales.

Not only has the average percentage of asking price achieved continued to climb when compared to last year, but over 40% of sellers are exceeding the original price set for their property, while sold prices are slipping below 90% of the original asking price in less than 1% of postcodes.

It remains to be seen just how long the market will continue performing at such a rate, but as it stands, it’s a very good time to sell your home.”

Data and methodology

We pulled data from the major property listing portals which were then cross-referenced with the Land Registry.

The latest data looks at the percentage of asking price achieved so far in 2022.