New research by Quickmovenow.com and Home.co.uk has shown where the best and worst places are to sell a property in England and Wales, reports The Daily Express.
The research looked at how long properties are on the market for in several areas across the country. On average, properties in England and Wales are on the market for 113 days.
While many may expect some of the least desirable locations in the UK to be the worst for sellers, this is not always the case. In fact, the data named London as the worst place to sell a home in England and Wales.
London is home to all ten areas with the longest time on the property market. Mayfair topped the list with the average house being on the market for almost a year - 272 days.
The pricey London location was closely followed by Soho, Marylebone, Knightsbridge and Charing Cross. All locations have an average asking price above £1million.
Meanwhile, on the other end of the spectrum, Rochester is the best place to sell a property with homes being on the market for an average of 52 days. The historic city located in Kent has an average asking price of £260,000.
Rochester was followed by Bedford, Swindon, Gloucester and Derby, with all four locations seeing houses sit on the market for less than 60 days on average. Hastings, Bristol, Hartlepool, Bolton and Northampton were also named some of the top spots for quick sales.
Danny Luke, Quick Move Now's managing director said London’s prime property market has struggled throughout the last year.
He explained that with more people home working, buyers are looking to get more space for their budget which has led to an exodus out of the capital. Unfortunately, this, along with a lack of international visitors, has had a massive impact on prime London residential property.
He added: “Homeowners looking to sell are faced with a challenging market.”
However, the property expert said the stamp duty holiday has had a positive impact on the property market elsewhere.
He continued: “Typical time on market for the whole of England and Wales is currently 113 days – just two days more than in March 2020, which is impressive considering what the economy and the property market have been through over the last 12 months.”
The fact that on average, houses in Swindon sell in less than 60 days means that sellers can expect to better the national performance by around six weeks, a stat that definitely eases the stress of moving house.
quickmovenow.com | home.co.uk