Property

Where are Britain’s fastest property markets?

Warren Lewis
|
10th May 2019
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The latest analysis of the UK property market by Zoopla takes a look at where you can expect to sell your home in the least amount of time in Britain.

The property portal has been crunching the numbers and found that the average property in the UK takes 56 days to go under offer from when first listed.

But where can you sell your home in less time?

According to the data, Edinburgh and Falkirk are host to the fastest moving property markets in Britain, with homes listed for sale in the areas taking an average of just 27 days to go under offer, compared to the British average. Zoopla also analysed home sales in the top 50 biggest towns to identify the most commonly sold property type and average price in each location.

With regards to the fastest moving property markets, Glasgow is in third place where properties go under offer in an average of 31 days. Elsewhere in Scotland, Stirling is in fourth place (32 days); and heading down to Wales, Cardiff is in fifth place (37 days). On a regional level, Scotland and the West Midlands are both home to the speediest property markets with the average ‘for sale’ listing going under offer in 42 and 46 days respectfully. Homes in Blackpool take the longest to go under offer, with a relatively slow average of 71 days, one day longer than property in London.

When it comes to the most commonly sold property type, in Manchester a three bedroom semi detached property is the most sought after, with the average price of a three bed semi in the city being £196,514. In Bristol, a three bedroom terraced house is the most commonly purchased, selling for £280,851 on average. In London, two bedroom flats top the list, with the typical two bed flat priced at £610,439.

Annabel Dixon, spokesperson for Zoopla comments: "Despite widespread reports of a subdued housing market, Brits may be surprised that it takes less than two months for the average British property to go under offer from the date it was first listed for sale.

The key is to get your pricing correct, meaning the best way to sell your home quickly is to ask for its true value given the current market. Overpriced homes won’t shift and may have to be discounted and on the flip side nobody wants to sell for less than their property is worth.

Zoopla is a great place to start. It provides estimates of how much every home is worth in the UK and our AgentFinder tool can put sellers in touch with agents who know the local market inside out.

It’s important to state that wherever in the country you are buying, it will pay dividends to get your finances and paperwork in good order ahead of time.

Buyers outside Scotland should also ask the seller’s agent to take the property off the market once their offer has been accepted to help pave the way for a smooth transaction."

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