THE number of homes selling for more than their asking price has increased as the recovery in Scotland's property market continues to gather pace.
A new report has recorded a jump in the average selling price, bringing it nearer to the average asking price than at any time since start of the economic downturn in 2007.
The s1homes Scottish House Price Report for April to June this year shows average selling prices have increased by more than £9,000, or six per cent, since the same time last year.
The trend has seen the s1homes "reality gap" - the difference between what sellers hope to sell properties for and the price they actually get - close significantly to less than 1 per cent, from 5 per cent in March.
Over the period, the average asking price rose by £2,000 while the average selling price grew by more than £8,500 to £162,122.
Terraced houses sold on average for £11,000 more than asking price, while semi-detached houses saw an average rise of £8,000 in selling prices.
Ewan Stark, managing director of s1homes, said: "Emerging evidence of the disappearance of the 'reality gap' is significant. The fact that properties are selling for more than asking prices is further proof that buyer confidence is continuing to grow in Scotland."
Eric Curran, managing partner of chartered surveyors DM Hall, commented: "A comparison with last year's figures for the same quarter reflects a similar seasonal trend."
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