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Flat sales defying market trends

FLAT owners are continuing to enjoy the greatest success in the property market, according to figures from a property website.

The s1homes Scottish House Price Report for the first three months of 2014 shows that flats are defying market trends to sell at an average £11,000 above their asking price.

The average asking price for a two-bedroom flat in Scotland was £104,072 between January and March this year, with three-bedroom flats typically marketed at £147,659.

However, other homeowners - particularly those with detached or semi-detached properties - are continuing to pitch prices at competitive levels to maximise interest from buyers.

Detached homes are typically being snapped up at £35,000 under asking price.

As a result, the so-called "reality gap" the difference between what sellers hope to sell their properties for and the price they actually achieve has widened on average from two per cent in the last three months on 2013, to five per cent in the last quarter.

A typical property in Scotland is now selling at almost £8000 less than their asking price.

Ewan Stark, managing director of s1homes, said: "The latest report is good news for both sellers and buyers.

"By pricing properties sensibly and competitively, sellers are being able to secure a sale by seizing on the confidence that is growing at pace within Scotland's property market.

"While buyers are finding that they can continue to pick up properties way below asking prices."

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