News Article

Homes are selling faster in the UK

According to recent research conducted by GetAgent, a leading Estate Agency comparison website, the average time it takes to sell a home in England and Wales has decreased by 44 days. GetAgent regularly analyses the duration from the listing of a property until the completion of its sale for every postcode in the region.

Housing market trend

In the past 12 months, the average time to sell a home in England and Wales was 250 days, which is 44 days faster compared to the previous 12 months average of 294 days. This indicates a positive trend in the market. Among the areas with the quickest turnaround, the SW1Y postcode in Westminster stands out, with homes selling in just 79 days on average over the past year. Similarly, Northumberland's TD15 postcode boasts a short average selling time of 92 days. Other notable areas include SY15 in Powys at 117 days and LA17 in South Lakeland at 121 days.

London homes sell fast

The W1D postcode in the London Borough of Westminster experienced a significant improvement, with the average selling time reducing to 232 days in the last 12 months. This marks a remarkable reduction of 981 days compared to the 1,213 days it took for homes to complete their sales in the preceding year.

Colby Short, the CEO of GetAgent, commented on the findings, stating, "Despite the property market instability spurred by last September's mini-Budget, home sellers and buyers are continuing to transact and at a greater speed over the last 12 months when compared to the 12 months prior."

Short added, "While some areas have witnessed a substantial decrease in selling time, this hasn't been the case across the board. For those seeking a quick sale, it is crucial to price their property realistically based on current market conditions, ensure all necessary paperwork is in order, and consider targeting first-time buyers or buyers without an ongoing chain, even if it means accepting a slightly lower price for their home."

Do you want to sell your property fast?

If you're looking to sell your home quickly, staying informed about the average selling times in your local area is essential. Pricing your property appropriately, being prepared with necessary documents, and targeting specific buyer segments can significantly contribute to expediting the sales process. Also, get the right help, and seek out a reputable Estate Agent near you who knows the area well that you want to sell or buy in.  

Original source: https://www.estateagenttoday.co.uk/breaking-news/2023/5/getagent-homes-are-selling-44-says-faster
GetAgent: https://www.getagent.co.uk/

Image source and credit: 

https://www.pexels.com/@lina/

Posted on: 8 June 2023

Share:


Recent Articles

28 February 2024

How The Market Is Warming Up For Landlords In 2024

Whether you’re an experienced landlord looking for new investment opportunities or looking to take your first steps to becoming a landlord, the market is looking promising as we settle into 2024. Let’s look at how the rental market is shaping up and how you can benefit from it as...

Read More

7 February 2024

Why Is Moving House Easier In 2024?

Thinking of moving house in 2024? Read our expert guide on how the property market is shaping up to make it a good time to make the change...

You can move house quickly in 2024

Homes placed on the UK property market took an average of 34...

Read More

12 January 2024

Rental Valuation Guide For Landlords

Landlords! When was the last time you booked a rental valuation?

Rental demand still outstrips supply in the UK, and your property is unique, which is why it’s important to understand its true rental value. Average rents for new lets increased by 12.2% in the year to...

Read More
Rightmove Zoopla Primelocation The Property Ombudsman Trading Standards Institute London Landlord Accreditation Scheme My Deposits Safeagent