AN East Riding market town has bucked a national trend which has seen house-sellers in parts of England and Wales having to shave off as much as £100,000 from their initial asking price.
Driffield, along with Salford in Greater Manchester and Dronfield in Derbyshire, was highlighted in joint-first position by Zoopla, as places where sellers were achieving 100 per cent of their asking price on average.
The property website said homes in England and Wales were getting 96.3 per cent of their asking price on average, or an £8,000 shortfall.
Sarah Walford, branch manager of Dee, Atkinson and Harrison estate agents in Driffield, said they were surrounded by much more expensive towns like Beverley, Pocklington and Malton.
She said buyers “get a lot of house for their money” in the town, which was listed in the Sunday Times Best Places to Live in Britain Guide earlier this year.
She said: “Normally school holidays are a quiet time but it has been really busy. We have a lot of people from the West Riding, wanting to be nearer the coast.
“We are in the Wolds and we are handy for North Yorkshire as well, 40 minutes from York. There’s not a lot of crime and it is relatively easy living, although we could do with a bit more in the High Street. You would be looking at another £100,000 for a four-bed property in Beverley.”
Sheffield was another hotspot, weighing in at fourth on the list, with homes making 99.6 per cent of their asking price, just ahead of Droitwich in Worcestershire.
New business manager James Holding, from Belvoir estate agents, said Sheffield was in demand with both first-time buyers and investors and remained popular with graduates.
He believes it is linked to multi-million pound investment, including the growing Advanced Manufacturing Park and also the new city centre, commercial district – the Heart Of The City II.
He said: “Sheffield is also proving a very trendy place to live, with the Kelham Island District and Ecclesall Road areas of particular note for their award-winning, eclectic bars, real ale pubs and restaurants on the doorstep; all this meaning that vendors can always expect to achieve close to asking prices for quality residential and investment properties in popular locations.”
The analysis compared listing data with Land Registry sales figures between June 2018 and May 2019 to make the findings.
In Kensington, London, the average discount is £115,000, with sellers achieving 91.7 per cent of their asking price of nearly £1.4 million typically,
Across London, the average home achieved 94.6 per cent of its initial asking price.
Zoopla spokeswoman Laura Howard said the relatively close relationship between initial listing and final sale prices, even in areas considered to be under-performing, "points to a healthy and robust property market in which estate agents and sellers alike are well-versed in and realistic about property values".
She continued: "Crucially, it's this which helps to keep the wheels of the UK housing market well oiled and turning independently, and in spite of, the wider more uncertain political factors currently at play."
Zoopla’s research also identified Mountain Ash in South Wales as the most under-performing town.
In April, the Sunday Times picked out Driffield – known as the capital of the Wolds – for its old-fashioned charm, access to beautiful countryside and community feel. But experts also highlighted its new bike shop and micropub as signs it is becoming more trendy.