Is there a correlation between the UK’s fastest moving areas (Rightmove research), and homeowners needing a speedy sale of their property?
The Map illustrates Rightmove’s 2018 fastest moving locations together with Flying Homes quick house sale hotspots:
One notable common feature emerging is that when the locations are plotted on a map most of the locations are within a radius of 40/50 miles (North and South) of the M62 motorway which stretches from Knotty Ash in Liverpool, Merseyside in the West to North Cave, near Hull in the East Riding of Yorkshire, a distance of 107 miles.
The latest analysis from Rightmove appears to confirm that there is a connection between the UK’s fastest moving locations and quick sale hotspots.
The Flying Homes survey into ‘quick home sale hotspots’ identified the top 10 locations as:
The Rightmove survey reveals the top 10 fastest moving locations in 2018 as:
- Colwyn Bay
At first glance from TABLE A, there doesn’t appear to be much of a correlation between the towns in the quick home sale hotspots and the fastest moving locations, (apart from Oldham in Lancashire appearing at number 3 and 2, respectively).
|Town||Quick Sale Rank||Fastest Moving Rank||County|
|Barnsley||1||Not ranked||South Yorkshire|
|Doncaster||2||Not ranked||South Yorkshire|
|Rotherham||5||Not ranked||South Yorkshire|
|Dewsbury||Not ranked||9||West Yorkshire|
|Halifax||7||Not ranked||West Yorkshire|
|Colwyn Bay||Not ranked||8||Conwy|
|Wigan||9||Not ranked||Greater Manchester|
|Rochdale||Not ranked||4||Greater Manchester|
|Leigh||Not ranked||5||Greater Manchester|
In TABLE B (below) the ‘County’ location for both quick sale hotspots and fast-moving areas is identified. Apart from Lincolnshire, It is predominantly the Northern Counties of South Yorkshire, West Yorkshire, Lancashire and Greater Manchester which account for fast moving locations / quick sale hotspots.
Other Rightmove ‘fast-moving areas’ which do not rank very well as ‘quick sale’ hotspots are Wrexham, Colwyn Bay and Newport (North and South Wales, respectively) and Southport in Merseyside. It’s worth mentioning that property is generally cheaper in Merseyside and North Wales which tends to correlate generally with quick home sale hotspot locations.
TABLE B (Identifies just the UK Counties for both quick sale hotspots and fastest moving locations).
The top 10 dataset for the Flying Homes quick sale hotspots overlapped with fast-moving locations identifies Oldham in both datasets. At County level, Lancashire/ Greater Manchester feature highly (in the towns of Preston and Wigan – quick sale hotspots, join Rochdale and Leigh – fast moving locations).
What can be deduced from the analysis together of quick home sale locations and quickest moving areas?
The analysis may confirm some or all of the following:
- House sellers desperate for a quick house sale will push through the sale of their home in the shortest timeframe.
- House buyers recognise they have a bargain property and want to secure their purchase and complete in a short timescale.
- Both buyers and sellers (and specifically in Oldham), recognise their mutual wish for property transactions to finalise quickly.
- Local searches, etc, may be faster in the above locations, therefore property sales finalise quicker.