More homes sell above asking price

Around one in eight homes sold for above the asking price in August, the highest proportion since 2015, figures reveal. The 13% total was 5% up on the month before. A temporary stamp duty cut and the release of pent-up demand were credited for the rise. But 53% went for less than the original asking price, according to estate agents' body NAEA Propertymark. An average of 12 sales were agreed per branch in August, up from nine a year earlier, it said, but added that the proportion of sales made to first-time buyers stood at 23% in August, a fall from 25% in July. Mark Hayward, chief executive of NAEA said: "We have witnessed a boom in the number of prospective buyers. Many buyers are clearly willing to pay over the asking price in order to secure their dream home."

Daily Mirror (28/09/2020)    The Sun (28/09/2020)