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Almost four in ten homes sell for asking price or MORE

Voice Of EU



The number of homes selling for asking price or above is increasing as buyers chase down homes in a buoyant property market, new figures have revealed.

The percentage has been rising since the housing market reopened last year – in May in England, and in June in Wales – and has now reached a record high

At the most recent point asking and selling prices could be compared, in January this year, almost four in ten homes sold in England and Wales – at 37 per cent – achieved their final asking price or above, according to Rightmove.

With annual house price inflation accelerating since then – to 10.9 per cent in May, according to Nationwide Building Society – the proportion of asking price or higher deals may have grown further.

In January this year, more than a third of homes in England and Wales - at 37 per cent - achieved their final asking price or above, according to Rightmove

In January this year, more than a third of homes in England and Wales – at 37 per cent – achieved their final asking price or above, according to Rightmove

The property website based its research on its own asking prices and sold price data from the Land Registry.

The latest figure is an increase from 28 per cent in January 2020, and significantly higher than the long-term average of 23 per cent between 2005 and 2021.

The last record was set back in May 2016, when 36 per cent of homes sold for the asking price or above.

The region with the greatest number of asking price or more sales was Yorkshire and the Humber where 45 per cent of sellers saw their home selling for at least the listed price tag.

London saw the smallest proportion of homes reach at least the asking price, but even in the capital the figure was 30 per cent. 

The long-term average of homes achieving the asking price or above between 2005 and 2021 is 23 per cent

The long-term average of homes achieving the asking price or above between 2005 and 2021 is 23 per cent

Among the properties that reached asking price across England and Wales in January, 18 per cent sold for more than the listed price, which is the same as the previous high of 18 per cent in May 2016. 

Meanwhile, 19 per cent sold for exactly the asking price.

The long-term average between 2005 and 2021 for the proportion of homes selling for over the asking price is 10 per cent.

% of homes selling for asking price or above Ave % of final asking price achieved
Yorkshire and The Humber 45% 98.50%
North West 41% 98.20%
East Midlands 40% 98.40%
North East 39% 98.10%
West Midlands 39% 98.30%
East of England 37% 98.40%
South West 35% 98.10%
South East 34% 98.00%
Wales 32% 97.40%
London 30% 97.40%
England & Wales 37% 98.10%
Source: Rightmove & Land Registry based on January 2021 data.  

Rightmove’s Data Tim Bannister said: ‘This unique study quantifies the buyer bidding wars that agents have been reporting since the markets reopened last year, and is further evidence of the unprecedented market that emerged from the various lockdowns with many people deciding they wanted or needed to move as their requirements on space and surroundings changed.

‘I would, however, caution against sellers being tempted to ask their agent to put their property on for a price that’s much higher than market value.

‘Although many agents are seeing buyers scrambling to put in offers, if your property is priced too high at the beginning it will stick out like a sore thumb as buyers will compare the asking prices of similar properties in the same area.

‘You need to first get people through the door, even for desirable properties in the hotter areas. 

‘My advice would be to listen to your agent’s expert opinion, and be mindful that the market is now showing early signs of cooling.’

What final offer should you make? 

What should you offer if you’re faced with a bidding war on a property for sale that you want to buy and are invited to make your best and final offer?

We spoke to two experts about how to approach reaching the final amount you bid – one an estate agent selling homes and the other a buying agent, who acts for purchasers.

Vendors who receive multiple offers at final stage may choose the buyer who they would most like to see living in their home 

Robert McLaughlin, of estate agents KFH, said: ‘The buyer should first ask their agent for advice to get an idea on what the seller might accept as a final offer. 

‘Buyers should be prepared to offer the maximum price they are willing to pay. 

‘In the current market, buyers who attempt to offer an amount lower than the asking price may not endear themselves to the vendor. Buyers should ensure that they are flexible on their time frames, build a good rapport with the vendor and reiterate their position and the steps they have taken in writing. 

‘Vendors who receive multiple offers at final stage may choose the buyer who they would most like to see living in their home.’ 

Buying agent Henry Pryor said: ‘Work out what the property is worth to you, add £100 and that’s what you should bid. 

 The best you can do is to offer what the property is worth to you, and to stress your position – and pray

‘Don’t worry whether it is above or below the asking price. A property is worth what you will pay for it, the seller gets to decide if it’s enough.

‘If someone pays more then they either liked it more than you or had deeper pockets. 

‘I’ve done 24 ‘best and final offers’ this year, and been successful at 15. It’s a lousy way to buy a house and the best you can do is to offer what the property is worth to you, and to stress your position – such as having your finances and solicitors in place solicitor – and pray.’



The research matched individual Rightmove listings to Land Registry transactions and analysed the difference between the final asking price on Rightmove with the eventual sold price.

Data runs from January 2005 to January 2021, which is the latest month with sufficient sold price data available from Land Registry.

There is currently data available for an estimated 75 per cent of homes that completed in January, compared to an estimated 4 per cent available so far for homes that completed in April, with no data available yet for May completions.

The property website based its research on its own asking prices and sold price data from the Land Registry

The property website based its research on its own asking prices and sold price data from the Land Registry

Bruce King, of estate agents Cheffins in Cambridge, said: ‘As the winter of 2020 saw one of the busiest periods in the property market to date, the number of completions of properties in January were also much higher than usual, with the majority of houses being sold at over the asking price.

‘The last quarter of 2020 saw almost double the number of property sales agreed in comparison to 2019, as a number of factors impacted the housing market.

‘The coronavirus pandemic continued to put massive pressure on property sales outside of London and as buyers moved out to the regions in their droves, we saw a frenzied market with properties coming to the market selling within only a matter of days, with competitive bidding situations fast becoming the new normal.

‘The festive period presented itself with a lack of Christmas parties or holidays and so people were less distracted through the back end of last year and more willing to consider a January completion date.

‘For many they wanted to start the New Year with a new start, in a new property, and were willing to pay over the asking price to make that happen. This market behaviour we saw is an unusual phenomenon however, and it’s likely that the market will start to settle once the world slowly begins to open up again.

‘I’m doubtful we will see that level of ferocity in the market again this year. What has also certainly been the case over the past 18 months or so is that people have reignited their love for the house they live in. Home is now much higher on their priority list, rather than eating out, holidays or cars.’

And Marc von Grundherr, of estate agents Benham & Reeves in London, said: ‘It’s little wonder really that such a large proportion of home sales are at asking price or above given that the stamp duty holiday and pent up demand has led to a 50 per cent hike in buyer demand and therefore transactions.’

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AnaCap secures €59m loan for Paris office deal (FR)

Voice Of EU



Tristan Capital Partners’ TIPS One “Income Plus” Real Estate Debt Fund has provided senior debt financing to funds advised by AnaCap Financial Partners, to support the €59.25m acquisition of South Station, a freehold office asset located in Massy, in the second ring of Paris. South Station is a high-quality property ideally located in Massy – the largest economic centre in the Southern Paris area – and is adjacent to the town’s main transport stations (RER and TGV). The asset is one of the most attractive buildings in the submarket offering modern A-grade office space with excellent amenities.


The sale and partial leaseback acquisition will see the vendor CGG, a geophysics specialist, remain as the majority tenant. Pramena Investment will act as the asset manager for the property.


Ashil Sodha, Director, Debt Investment at Tristan Capital Partners, said: “As TIPS One continues to diversify, we are pleased to have closed our first loan in France. We are focused on lending on high-quality assets with the right ESG characteristics and we believe this loan exemplifies this strategy well. We look forward to working alongside AnaCap and Pramena and supporting them in optimising their strategy for this asset.”

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Barratt and David Wilson invest €45.5m in UK resi market

Voice Of EU



Harworth Group plc has sold two residential land parcel at its Waverley and Thoresby Vale developments to Barratt and David Wilson Homes, for a total consideration of €45.5m (£39m).


At Waverley in South Yorkshire, Harworth has competed a €33.8 (£29m) land sale which will see the delivery of approximately 450 homes, of which over 30% will be affordable. This represents Harworth’s largest-ever serviced residential land sale by number of plots. The new homes will represent Barratt and David Wilson Homes’ fifth phase at the site and will be situated adjacent to both Highwall Park and the Waverley Lake, benefitting from unique water frontage in an area of the development known as Waverley Waterfront. Construction will follow a bespoke design code, devised in partnership between Harworth and Barratt and David Wilson Homes, that complements the existing Waverley development while maximising the amenity value of the area’s waterfront location. The development will include a pedestrianised promenade, further enhancing the site’s placemaking and connectivity.


At Thoresby Vale in Nottinghamshire, Harworth has exchanged on the sale of serviced land capable of delivering 174 homes, for €11.6m (£10m). This represents the second phase of the Thoresby Vale development, following the sale of two land parcels at the site to Harron Homes and Barratt and David Wilson Homes in 2019 and 2020 respectively. Alongside the new homes, Barratt and David Wilson Homes will provide a new surface water attenuation pond and a multi-use path and associated landscaping, which will enhance connectivity and link to the site’s planned primary school and local centre, for which site preparation works are currently underway. The sales conclude an active first half for Harworth’s residential developments, during which over 100% of its budgeted residential land sales for the year were completed, exchanged or under offer, and it also launched its first single-family Build to Rent portfolio.


Andrew Blackshaw, Chief Operating Officer at Harworth, commented: “Barratt and David Wilson Homes is a trusted and valued partner to Harworth, and we are pleased to be developing our relationship with these two significant land sales. Harworth is particularly well-placed in volatile markets as our serviced land provides housebuilders with a product which is de-risked and ready to build on from day one. The acceleration of both our Waverley and Thoresby Vale sites will see Harworth stepping through its strategy to take advantage of the placemaking and levelling up that these schemes ultimately bring to these communities. In addition, these sales will enhance the maturation of these socially diverse neighbourhoods when delivered alongside our recently launched single family Build to Rent product, Project Spur.”


Ed Catchpole, Joint Regional Director for Yorkshire & Central at Harworth, added: “Barratt and David Wilson Homes has a proven track record of high-quality housing delivery at Harworth sites, and these transactions will help to further accelerate the build-out and placemaking at Waverley and Thoresby Vale. Both sites are also set to benefit from additional investment which will see the creation of new Build to Rent homes and local amenities.”


Mark Cotes, Managing Director at Barratt and David Wilson Homes North Midlands, said: “We’re thrilled to have secured the land for an extension to our Thoresby Vale development and will look forward to another opportunity to meet the growing demand for housing in Nottinghamshire. Our growing community in Edwinstowe will continue to provide new jobs for local people and we’ll be making further ecological and financial investments as the development progresses.”

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Stokrotka to acquire 14 grocery stores (PL)

Voice Of EU



Retail grocery chain Stokrotka signed an agreement to take over 14 grocery stores that are operating in Poland in the Masovian Voivodeship. The transaction is planned to be completed until the end of 2022, subject to certain conditions to be fulfilled according to the agreement, including antitrust approval. Target sales of 14 stores operations to be taken over are expected to reach more than €25m. Stokrotka is a Polish grocery retail chain and at the end of 2021 operated over 800 own and franchised stores, its turnover amounted to over €1bn. Stokrotka belongs to Maxima Grup? since 2018.


“Following the takeover of eight stores which was finalised at the end of 2021, the recently signed takeover of 14 stores in the area of Masovian Voivodeship will further strengthen our position in the region and allow us to expand in addition to the planned organic growth”, said Arunas Zimnickas, Managing Director and President of the Management Board of Stokrotka.


“Despite challenging times, we believe in this region in terms of both security and growth opportunities. Therefore,  we are further investing and were able to carry out a second acquisition within one year time frame. The transaction contains real estate element, which corresponds to our direction of strengthening real estate portfolio. We are keeping our focus to expand in the Polish market, both through organic growth and M&A activities with the main criteria that it would be a good fit within Stokrotka’s business model. Ar?nas Zimnickas with his team are doing a great job, managing to maintain the expansion of the chain by almost hundred stores a year“, said Mantas Kuncaitis, Maxima Grup? CEO and Chairman of the Board.

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