UK property price gap: 2024 data reveals 30% difference between asking and selling prices

New research reveals dramatic regional variations in UK property asking vs. selling prices, with up to 30% price drops in some postcodes while others exceed expectations. This comprehensive analysis of 2024 property data shows where buyers may find negotiating power and where sellers hold the advantage.

In recent weeks, Homeward Legal has published several articles examining expert analysis of the housing market, consistently warning sellers against overpricing properties when listing them for sale.

As buyers, we often intuitively recognise when an asking price is too high. However, seeing a price repeatedly reduced to meet market valuation can create hesitation. Many buyers interpret dropping prices as potential red flags indicating hidden problems rather than simply recognising an initially overpriced listing.

UPSTIX, specialists in quick property sales, has conducted extensive research comparing original asking prices against final sold prices across the UK throughout 2024. This data analysis provides valuable insights into regional property market trends and can inform your approach when making offers.

Perhaps unsurprisingly, properties most likely to be listed with inflated asking prices tend to be concentrated in South-East England, though the area with the largest price gap is actually in the North-East and Cumbria region.

Source: UPSTIX property data analysis 2024

While some regions show significant overvaluation, others demonstrate the opposite trend. Properties in these areas - predominantly in northern England and the Midlands - typically sell for more than their asking price, indicating strong demand and potential competition among buyers.

Source: UPSTIX property data analysis 2024

For a complete market picture, the research also identified areas where asking prices closely align with final sale values. These balanced markets, dominated by Manchester and northern/eastern regions, demonstrate accurate market valuations by sellers and estate agents.

Source: UPSTIX property data analysis 2024

Fred Jones, Chief Executive Officer at Upstix, provided insight on these findings:

This data tells the real story of UK house prices. While some sellers are still achieving strong results, others may need to adjust expectations to reflect local demand and changing buyer priorities. It's important for sellers to take a realistic view of what price you can achieve for your home, and adapt the listing price accordingly, particularly if you're not willing to wait months and months to get an offer.

Whether you're buying or selling at any price point across the UK, quality conveyancing services are essential to ensure a smooth transaction. Homeward Legal specialises in client-focused conveyancing with a commitment to completing your transaction efficiently.

Our conveyancers begin work immediately upon appointment, allowing you to move forward with confidence. Homeward Legal provides transparent fixed-fee quotes - what you're quoted is what you pay for standard conveyancing processes, enabling accurate budgeting for your move.

While unexpected requirements such as specialist flood assessment reports may occasionally arise during transactions, your solicitor will discuss any additional costs upfront as they emerge.

For added peace of mind, Homeward Legal offers a "no completion, no fee" guarantee, ensuring you won't pay if your purchase or sale doesn't reach completion.

Ready to move forward with your property transaction? Call Homeward Legal today at to discuss your requirements or use our quick quote generator to receive an instant conveyancing quote.