We take a look at the fastest-selling places in the UK today. As a seller, what you want most is a quick, pain-free house sale where you manage to achieve your asking price or above. After all, fast home sales are the dream – after all, no one likes delays, complications, or bumps on the road when it comes to such a significant life move.
If you’re looking for a quick house sale, check out predictions for the UK housing market before selling, which will help determine how best to sell your home.
There are certain areas of the UK where properties sell fastest, while it takes a little bit longer in other places. A study has revealed that Bristol and Edinburgh are the places to be – the two cities have an average selling time of 51 and 53 days. High demand and fierce competition play a significant part in this.
By contrast, properties in Swansea and Liverpool sell the slowest. Sellers in these cities have to wait a bit longer to complete, with the average property taking over 100 days to sell in both locations. It’s the slower selling places that you need to set a competitive asking price.
Property hotspots aren’t always the quickest selling locations
The research, carried out by Post Office Money, also revealed that two of the UK’s property hotspots – London and Brighton, where house prices have increased significantly in recent years – have seen a sharp rise in the time it takes for a property to sell. It now takes 20% longer for a home to be taken off the market in both these cities.
On average, it takes a UK property 91 days to sell, the research found. However, Glasgow, Southend, Portsmouth and Derby were other parts of the country that were 4 of the quickest selling locations, where it takes fewer than 70 days to sell. In comparison, sellers in Newcastle (96 days), Belfast (96 days) and Hull (98 days) are likely to be left more frustrated.
In the year to June 2016, the average price of UK homes grew by 8.7%. The City Rate of Sale report, which analysed the time it takes to sell in 20 of the UK’s biggest cities, also revealed that prices have risen in every area except Swansea (where prices remained steady).
What can you do to increase the chances of a fast transaction?
In an ideal world, selling a house would be pushed through in double-quick time. There are things you can do when selling your home, however, to speed up the process.
You’ll need to market the virtues of your property in the right way, with a significant presence on the portals and good-quality photos. Then, when it comes to the viewings, make sure that you have a bright, attractive, welcoming property that will be appealing to a wide range of buyers.
During the sales process itself, it’s wise to respond to any correspondence as quickly as you can, to work in close collaboration with your estate agent at all times and to stay patient and level-headed throughout.
If the above research is anything to go by, selling a home in Bristol and Edinburgh is currently easier than Swansea and Liverpool, but there are no hard and fast rules for this.