Speeding Sales: Unveiling Britain's Fastest and Slowest Moving Housing Markets
A recent analysis by Zoopla has shed light on the diverse pace of property sales across Britain, revealing significant regional variations and key factors influencing market velocity. On average, a property in England and Wales transitions from listing to agreed sale within 36 days. However, this figure masks a wide spectrum, with some homes finding buyers in a mere 19 days, while others linger for over two months.
Regional Disparities: North Leads the Pace:
The analysis highlights a clear trend: homes in northern regions of England and Scotland are selling considerably faster than those in the south. Manchester and the London borough of Waltham Forest emerged as the fastest-moving markets, with properties finding buyers in just 19 days on average.
Manchester's appeal stems from its vibrant young population, robust job market, excellent transport links, and ongoing urban regeneration, attracting both first-time buyers and buy-to-let investors. Waltham Forest, despite its higher average property price of £525,000, offers relative value within London, coupled with good schools, low crime rates, and ample green spaces.
Other northern locations like Carlisle, Stockport, and Gateshead, along with Redditch in the West Midlands, also boast rapid sales, with properties typically finding buyers within 20 to 22 days. Scotland mirrors this trend, with an average sales period of 21 days.
Factors Slowing Sales:
Location is not the sole determinant of sales velocity. Zoopla's analysis reveals several other factors contributing to slower market movement:
Incorrect Pricing: Properties priced above market value tend to languish, often requiring significant price reductions to attract buyers. As one property expert noted, "Setting the right asking price often dictates how quickly a property will sell."
Over Supply: An oversupply of properties in certain areas, particularly second-home hotspots, is also impacting sales times. The implementation of double council tax for second homes has increased supply in coastal towns and counties like East Lindsay and Gwynedd, resulting in average sales times of 59 days.
Property Type: The type of property significantly influences its sales speed. Two- and three-bedroom homes are the fastest-selling, appealing to first-time buyers and downsizers. Flats and larger four-plus-bedroom homes experience longer sales periods due to increased supply and buyer choice.
The Impact of Market Dynamics:
The early months of 2025 witnessed an 18 percent surge in flats entering the market, outpacing the 7 percent increase in houses. This surplus has resulted in longer sales times for flats.
Zoopla's executive director emphasised the importance of accurate pricing and local agent advice for sellers, stating, "Buyers have a lot more choice of homes for sale than a year ago. Aiming too high on the asking price is likely to impact saleability and how long you may have to wait to agree to a sale."
Key Takeaways:
Northern regions of England and Scotland are experiencing faster property sales compared to the south.
Accurate pricing, market supply, and property type are crucial factors influencing sales velocity.
Sellers should prioritise realistic pricing and seek expert advice to expedite sales in a competitive market.
Disclaimer: Please note that the content provided herein is intended solely for the purpose of broadening general understanding and offering general information. It should not be construed as a substitute for professional consultation or advice. You are strongly encouraged to seek guidance from qualified experts in the fields of finance, investment, or other relevant areas, tailored to your specific circumstances and requirements. By engaging with this material, you acknowledge and agree to the terms of this disclaimer.