"In the last quarter of 2016, we have seen a significant shift of property slowdown from the north to the south"
The UK property market has experienced turbulence for several months now; from property boom to Brexit, many would-be home sellers have experienced significant highs and now worrying uncertainty as Article 50 is set to trigger at the end of this month.
The feeling of positivity for the open property market will depend entirely on where in the country you are looking to sell a house. Some areas are seeing an average sell time of 76 days, whereas other areas are seeing lengthy average sell times of 295 days!
20 worst places to sell a property:
Sunderland – property spends an average of 295 days on the market
Rochdale – property spends an average of 292 days on the market
South Shields – property spends an average of 275 days on the market
North Shields – property spends an average of 269 days on the market
Bangor (Wales) – property spends an average of 269 days on the market
Darlington – property spends an average of 259 days on the market
Oldham – property spends an average of 254 days on the market
Knightsbridge – property spends an average of 249 days on the market
Charing Cross – property spends an average of 248 days on the market
Vauxhall – property spends an average of 246 days on the market
Strand – property spends an average of 244 days on the market
Rotherham – property spends an average of 243 days on the market
Batley – property spends an average of 243 days on the market
Broadgate – property spends an average of 243 days on the market
Bootle – property spends an average of 242 days on the market
Westminster – property spends an average of 241 days on the market
Southwark – property spends an average of 238 days on the market
Mayfair – property spends an average of 238 days on the market
Belgravia – property spends an average of 237 days on the market
Grimsby – property spends an average of 231 days on the market
20 best places to sell a property:
Bedford – property spends an average of 76 days on the market
Bristol – property spends an average of 79 days on the market
Swindon – property spends an average of 81 days on the market
Waterlooville – property spends an average of 83 days on the market
Northampton – property spends an average of 84 days on the market
Portslade by Sea – property spends an average of 85 days on the market
Basildon – property spends an average of 85 days on the market
Rochester – property spends an average of 87 days on the market
Sutton – property spends an average of 90 days on the market
Watford – property spends an average of 91 days on the market
Reading – property spends an average of 91 days on the market
Milton Keynes – property spends an average of 93 days on the market
Gloucester – property spends an average of 93 days on the market
Woking – property spends an average of 94 days on the market
Luton – property spends an average of 95 days on the market
Cambridge – property spends an average of 96 days on the market
Redhill – property spends an average of 97 days on the market
Bracknell – property spends an average of 97 days on the market
Hove – property spends an average of 100 days on the market
Eastbourne – property spends an average of 100 days on the market
Quick Move Now's Managing Director, Danny Luke, commented: “In the last quarter of 2016, we have seen a significant shift of property slowdown from the north to the south. Increased time on market figures continue to highlight the slowdown in the Greater London and the South East.”
Historically, there has always been a clear north-south divide between the best and worst places to sell, however, this steady trend is starting to diminish with Greater London making up nine of the twenty worst places to sell in March 2017.
Doug Shephard, director at Home.co.uk, added: "It's really Central London that's suffered the worst slowdown to date, but it seems to be spreading. The property market in the South East has also slowed but not yet by the same extent. What's more is that rents are following house prices and in Greater London: they are now going down. Buy-to-let lest investment, wary of overbought London and SE, is heading North in search of better yields. So if the trend continues we are going to be seeing fewer Northern locations in the worst 20 and more in London and the South East."
