There’s no denying that now is a great time to put your property on the market – There is a lot of excitement going on in the market at the moment and demand in the UK is higher than ever, not to mention that house prices are also on the rise.
However, recent data has revealed that there are areas in the UK that are going to generate more interest from potential buyers than others. The bespoke curtains and blinds company Thomas Sanderson ran a survey to see how long it took to sell a property from the day it was listed in various parts of the UK. In the survey, they found that it was the North of England that had the most interest from potential buyers, more specifically Sheffield and Liverpool. The data found that it only took an average of 11 days to sell a property in the S11 postcode area in Sheffield. Although properties seemed to be shifting the fastest in that particular area of Sheffield, it was postcodes in Liverpool that had the most interest from buyers with properties in the L11 and L26 selling in the 14 and 15 days, respectively. The L14 postcode also performed well with properties selling in 23 days on average. Other areas that performed well in the survey included Birmingham (17 days), Mexborough in South Yorkshire (44 days), Oldbury, West Midlands (47.5 days) and Cottingham, Humberside (50.5 days).
The survey also looked at the areas where it was the hardest to sell and the data found that the most difficult areas to sell were Birmingham (B13 post code area) and Aberdovey in Wales, where it took 761 days to sell a property in both places – which equates to about 2 years. Other areas where vendors were struggling to shift their property included Southall in London (684.5 days), Alston in Cumbria (608 days), Wembley, London (557.5 days) and Bootle in Merseyside (532.5 days).
This data was echoed in a survey carried out by Zoopla where they looked at the time to sell a house on a regional level. Once again, Northern regions and the West Midlands saw the quickest turnaround from when the property was listed to when the property goes under offer. Overall, the region that had the fastest turnaround with an average of just 42 days was the West Midlands. This was closely followed by the East Midlands that had an average of 43 days to wait for a property to go under offer. Other strong contenders included the North West that had an average of 51 days and the East and South East of England, where both regions had an average wait of 53 days. London had the highest turnaround time of 57 days. According to Zoopla’s findings, the UK as a whole had an average waiting time of 50 days for a property to sell once it has been put on the market.
While it is interesting to see which areas of the country have the shortest turnaround time when it comes to selling a property, it’s still an excellent time to sell your property wherever you are in the UK.
Are you looking to sell your buy to let property? Get in touch with one of our valuers today!
