More than half of property sales in England and Wales are now agreed within two months of listing, with homes spending an average of just 36 days on the market, according to new figures from property portal Zoopla. This marks a notable improvement compared to last year, with a 3% increase in the proportion of sales agreed within that timeframe.
Zoopla’s data reveals that 52% of homes listed for sale now reach the “sold subject to contract” (SSTC) stage within two months. Homes in the North of England, where prices are typically lower, are selling faster than those in the South.
North Leads the Way in Fast Sales
Properties in the North West and North East are among the quickest to sell, taking an average of 32 days. These regions are home to six of the top ten fastest-moving markets, including Manchester, Carlisle, Stockport, Gateshead, Newcastle upon Tyne, and Halton.
However, the fastest-moving market overall is Waltham Forest in North East London, where homes are selling in just 19 days on average.
In Scotland, the market is even faster. Homes are spending just 21 days on the market -13 days quicker than the UK average of 34 days.
Family Homes in High Demand
Two- and three-bedroom homes are selling the fastest, with two-bed homes taking just 23 days on average -two days quicker than last year. In contrast, flats and larger properties with four or more bedrooms take longer to sell, averaging 31 and 38 days respectively.
Richard Donnell, Executive Director of Research and Insight at Zoopla, commented:
“It takes just over a month to agree a home sale across England and Wales, but this varies widely across the country and by property type. Smaller family homes continue to be the most in-demand and fastest to sell.”
