The England postcodes including London and Manchester where properties sell fastest and slowest
Data tracking the moment a property is listed on the UK’s leading property portals to the point it’s marked as ‘sold’ with HM Land Registry has been analysed.
Newly released data has revealed the speed of house sales in England - including where they sell fastest and slowest. The average speed of a house sale in the UK is 17.52 weeks according to the analysis of 80,847 property sales a year from October 2022.
The fastest areas where homes are being sold were Waltham Cross (EN7), 12 miles north of central London, Immingham (DN40) in Lincolnshire, and Maryport (CA15) in Cumbria - painting a broad picture across England. Alternatively, the areas where homes were sold least fast were Manchester's M27 postcode, Maidstone (ME15), and Burgess Hill (RH15), West Sussex.
The data has been compiled by UK quick house sale and auctioneers Property Solvers with the use of its new 'speed of sale' tool. The statistic tracked the moment a property is listed on the UK’s leading property portals to the point it’s marked as ‘sold’ with HM Land Registry has been analysed.
The top 10 areas where properties sold fastest were:
|AREA||POSTCODE||Average number of days to sell||Number of properties sold|
The areas of England where properties sold slowest were as follows:
|AREA||POSTCODE||Average number of days to sell||Number of properties|
Only areas with at least 35 house sales within a year from October 2022 were considered in the data.
Ruban Selvanayagam, co-founder of Property Solvers said: “The property market is certainly in a different place relative to a couple of years ago. The continued pressures on the mortgage sector and buyers ability to secure the right kind of finance has resulted in delays with sales completing.”
"Combined with the recognised ‘snail pace’ nature of the conveyancing process, it’s likely that these trends are likely to remain for some time.”