..... ..... .....
..... ..... .....
...... ......

UK Properties Taking Average of 102 Days to Sell

According to a recent analysis of property sale trends in Britain, UK properties are taking longer to sell this year than in 2017. The average is presently more than three months in urban areas of the country.

Residential properties in cities and larger towns were on the market for an average of 102 days before being put under offer or sold.

According to the Centre for Economics and Business Research (CEBR), this is six days longer than was the case last year.

The average time it took to sell a residential property in the UK varied from an average of 39 days in Edinburgh, which was the best case situation, to 131 days in Blackpool, which stood at the other end of the spectrum.

Structural Defects Insurance

The property sale trends analysis suggested that it may take a lot longer than this to complete the deal, due to legal requirements associated with the transaction and the practicalities of move-in dates.

The research carried out for Post Office Money found that homes in Glasgow sold comparatively quickly, at an average of 48 days between going on the market and being sold.

The biggest decline in the amount of time that residential properties spent on the market were recorded in Belfast and Swansea, which reported waiting periods of 17 and 14 days less than last year.

In contrast, homes in Bristol and Luton were taking an average of 10 and 14 days longer to sell than in 2017.

Homes in London, where the property market has recently experienced a considerable slowdown, took an average of 126 days to find a buyer.

The property sales trends report suggested that financial constraints due to affordability had impacted demand for housing in these areas, resulting in longer selling times.

Specialists in Construction Insurance

Topic:

Stay Updated

Join our email list to receive useful tips, practical technical information and construction industry news by email. Relevant to everyone in the industry. Your details will be shared with no one else.