Which location takes just 13 days to sell a property?
The latest report and research from Home.co.uk has revealed which locations take the shortest time to sell.
Properties in Peterborough and Milton Keynes are selling faster than anywhere else in the country, latest research by Home.co.uk has found, in a study of property sales over a 180-day period. It takes a median average of just 13 days to agree a property sale in these two towns: a faster timescale than anywhere else in Britain.
A key factor is the two towns' easy commute to London, as homebuyers and investors alike look to move out of the capital in search of better value. Some next-time buyers are cashing in on high London prices, whilst others are simply priced out of the capital.
Bristol is another area where the property market is red hot. The West of England city has grabbed five out of the top ten postal districts in Home.co.uk's property hotspot list of fastest-selling areas outside of Greater London.
This includes the BS2 postcode area, which is next to the city centre's university, suggesting that the buy-to-let market for student accommodation is a strong motivator for buyers in Bristol.
The continued interest in investing in student accommodation is also a factor in the Woodley area of Reading being named another property hotspot. In this area of the city, which is close to Reading University, it takes just 15 days to sell, in terms of the median average.
Suburban Glasgow is another property hotspot. Clarkston and Giffnock, which are both affluent areas to the south of the city centre, take two top ten spots in terms of median average time to sell outside of Greater London.
Greater London's property hotspots are also dominated by suburban areas, showing heightened interest in commuter belt homes.
But while ten areas outside of Greater London have a median average time to sell of 15 days or less, just two areas of the capital, Uxbridge and Sidcup, can boast such a quick turnaround.
This latest Home.co.uk research shows that properties in the UB7 area of Uxbridge, near to Heathrow Airport, and the DA15 area of Sidcup take only 15 days to sell.
Sidcup takes one further Greater London top ten property hotspot place, with nearby Dartford claiming two places and Bexley, which is also near to Sidcup, bagging another spot.
The remaining top ten places also show how popular such commuter belt districts are. Sutton has two postal code areas ranked among this elite group, while Romford and Kingston-upon-Thames claim the remaining top ten places in terms of median average time on the market.
Doug Shephard, director at Home.co.uk, commented: “Our figures show that the really hot areas in the current property boom are now outside of the M25. These top sellers' markets are typically well-to-do districts where already premium prices are going through the roof, as buyers compete for the very limited supply of properties for sale.”