108 days – the longest average time for a home to go under offer

A new league table showing how long it takes homes to sell on average in different postcodes across England and Wales suggests the slowest area is west London where properties typically take 108 days to go under offer.

By contrast the fastest areas – Northampton, Coventry and Manchester – take a typical 36 days, while the whole-of-Britain average is 61 days.

The data comes from the consumer group HomeOwners Alliance which has compiled the league table from monitoring how long thousands of houses and flats were listed on property websites before being marked as “under offer”.

Seven of the 10 postcode areas where homes are changing hands most quickly are in the Midlands. These hotspots include Birmingham, Milton Keynes, Wolverhampton, Luton and Stevenage.

The analysis provides further evidence of a slowdown in the London property market, with four of the 10 postcodes areas with the slowest sales either in or close to the capital. Three others in this slower group are in the North East – specifically, Durham, Middlesbrough and Sunderland.

The 10 fastest ‘under offer’ postcodes were:

– Northampton (average 30.6 days)

– Coventry (31.3)

– Manchester (36.0)

– Swindon (36.4)

– Birmingham (36.7)

– Bristol (37.8)

– Milton Keynes (39.3)

– Wolverhampton (40.6)

– Luton (40.8) and

– Stevenage (41.2).

The 10 slowest postcodes were:

– London West (107.9 days)

– Llandudno (99.2)

– London North West (87.4)

– Durham (85.3)

– Twickenham (84.9)

– Blackburn (84.9)

– Middlesbrough (83.7)

– London South West (81.5)

– Blackpool (81.5)

– Sunderland (81.1).

The HOA used a tool called EstateAgent4Me to find the data, looking at over 100 postcode areas in England and Wales.

The postcode area relates to the address of the estate agent advertising the property, so this data does not include online only estate agents. The data in this research came from nearly 18,000 search results generated in December 2017.

Source: Estate Agent Today

2018-01-19T09:49:40+00:0019th January, 2018|