16th May 2019|News|Sales|

Midlands outperform the rest of England in sale time…

Fresh analysis by Zoopla has revealed Britain’s fastest moving property markets with the lowest number of average days for a seller to secure an offer.

The four quickest markets are all found in Scotland, with Falkirk and Edinburgh taking joint top spot with an average of 27 days to secure an offer from a prospective buyer.

Glasgow (31 days) and Stirling (32 days) also perform strongly, with typical properties receiving offers well under the UK average of 56 days.

The top five is made up by Cardiff, where it takes an average of 37 days for a seller’s property to go under offer.

Regionally, the best performing areas are Scotland (42 days), the West Midlands (46 days), the East Midlands (47 days) and Yorkshire and the Humber (54 days).

Britain’s slowest market is currently Blackpool, according to Zoopla, where the average property takes 71 days to go under offer.

Other poor performers include London (70 days), Newcastle (68 days), Hemel Hempstead (65 days) and Bradford (64 days).

Overpriced homes won’t shift and may have to be discounted

Zoopla also looked at the most common property type sold by location. In London, Edinburgh and Glasgow two-bedroom flats are the most popular.

However, in Liverpool and Bristol three-bedroom terraced properties are the most popular. Meanwhile, three-bed semis are the most common property in a range of locations, including Sheffield, Doncaster, Leeds, Manchester, Birmingham, Nottingham and Swansea.

“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,” says Annabel Dixon, spokesperson for Zoopla.

“The key is to get pricing correct, meaning the best way to sell [a] 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,” she says.