Britain’s fastest selling market revealed

Falkirk in Stirlingshire is Great Britain’s fastest selling market, with sellers in the area finding a buyer in an average of 22 days, according to fresh data from Rightmove.

Broxburn in West Lothian is the second quickest market, with homes finding a buyer in 23 days on average and Renfrew in Renfrewshire is third at 24 days to find a buyer on average.

Seven of the top ten quickest locations to find a buyer are in Scotland, where homes typically find a buyer more quickly, though these areas are taking longer to find a buyer than a year ago.

The average time to find a buyer in Scotland is now 34 days, compared with 22 days last year. Scotland is the quickest market in Great Britain, while London takes the longest to find a buyer on average (65 days).

Four of the top five areas where homes are taking longer to find the right buyer this year compared with last year are by or within a short distance of the coast, including Ferndown in Dorset, Brixham in Devon and Heysham in Lancashire.

Meanwhile, the areas where homes are finding a buyer even more quickly than last year are in the commuter belts of major cities, including Windsor in Berkshire, Knaphill in Surrey and Cowley in Oxfordshire.

Across Great Britain, it is currently taking 55 days on average to find a buyer and a further 165 days to complete a sale.

While homes are now taking longer to find the right buyer compared to the frenetic market of this time last year, when homes were finding a buyer in an average of 33 days, the market is still quicker than the pre-pandemic March 2019 average of 67 days to find a buyer.

Terraced houses are currently finding buyers fastest at 48 days, while detached houses are taking the longest to sell at 65 days.

Rightmove’s Tim Bannister said: “The current market conditions will suit more measured movers, who were perhaps put off by the frenetic market conditions of this time last year, when the average time to find a buyer was near a record low.

“Despite what will feel like calmer conditions, the market is still moving more quickly than before the pandemic started.

“This latest data reflects current buyer behaviours, with more buyers returning to cities and within commuting distance of an office and the speed of the market easing near the coast, which had seen some of the most frantic levels of activity during the pandemic.”

Britain’s quickest markets

Area Region Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year Average asking price
Falkirk, Stirlingshire Scotland 22 +7 £148,736
Broxburn, West Lothian Scotland 23 +8 £201,648
Renfrew, Renfrewshire Scotland 24 +7 £149,970
Uddingston, Glasgow Scotland 25 +12 £198,229
Clydebank, Dunbartonshire Scotland 25 +4 £124,584
Larbert, Stirlingshire Scotland 25 +11 £220,444
Clarkston, Glasgow Scotland 26 +8 £257,806
Hall Green, Birmingham West Midlands 26 +2 £291,956
St. George, Bristol South West 26 +9 £305,515
Walkley, Sheffield Yorkshire and The Humber 27 +7 £198,637

 

Areas where homes are finding a buyer more quickly compared with last year

Area Region Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year Average asking price
Windsor, Berkshire South East 58 -7 £581,103
Knaphill, Surrey South East 50 -6 £466,389
Cowley, Oxfordshire South East 68 -4 £437,183
Ashington, Northumberland North East 42 -3 £129,170
Withington, Greater Manchester North West 43 -2 £341,544

 

Areas where homes are taking longer to find a buyer compared with last year

Area Region Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year Average asking price
Ferndown, Dorset South West 83 +61 £486,700
Bodmin, Cornwall South West 92 +56 £248,441
Brixham, Devon South West 95 +55 £345,373
Heysham, Lancashire North West 89 +54 £199,978
Burntwood, Staffordshire West Midlands 72 +51 £278,007

 

 

This article is from Property Industry Eye.

You may also be interested in...

Mortgage rates set to fall with end of hiking cycle in sight
Industry insight

Mortgage rates set to fall with end of hiking cycle in sight

Read more
Government unveils ‘long-term plan for housing’ – full details
Industry insight

Government unveils ‘long-term plan for housing’ – full details

Read more
Government pledges to meet its 1 million new homes plan
Industry insight

Government pledges to meet its 1 million new homes plan

Read more

Have a question? Need more information?

Hear from our customers

‘This is the best Estate Agent in Milton Keynes by far. We have been renting the past 10 years from these guys and never let us down…Would 100% recommend Stratfords Property Services to anyone.’

Fatjon K

‘Stunning service, excellent communication and very quick. We hope everybody who is involved in buying a house (especially first time buyers like us) to have an estate agent as Matt.

Gunai A

‘I can highly recommend Stratfords. They are a professional but approachable and friendly team.They quickly found a new tenant for me and managed to negotiate a very good rent. Good communication.’

Ian K

‘We were incredibly pleased with the service and experience that we were provided with by Matt…Stratfords are a lovely business and I’m grateful that we found our new home through them, would highly recommend!’

Joe F

Recommended to Landlords and Tenants alike. Luke and Matt were incredible during the whole process of renting and talked me through everything with amazing attention to detail. Stand out the best letting agents in Milton Keynes.

Kyle

‘David and his team have been my agents for my rental properties for the last 10+yrs and have always been extremely fare and professional in delivering exceptional value for money… These are my go to guys for rental agents and house sales and purchases’

Neville H

‘They have been amazing since the time we started viewing properties. At that time I was working in London and it was very difficult to view properties, but with the assistance from Luke we made it possible…It truly is a joy renting from Stratfords.’

Pieter L

‘Had a great experience with Stratford Property Services. Luke was always extremely responsive and flexible in the 18 months I rented a property through them. I wouldn’t hesitate to rent through Stratfords again in the future.’

Rachel C