New figures released by Quick Move Now and Home.co.uk have revealed the best and worst places to sell a property in the UK, based on how long properties sit on the market.
According to the data, Scotland tops the list, with Glasgow and Edinburgh in first and second place, whilst London makes up much of the slower-moving market.
Top five fastest locations to sell a property
1: Glasgow - 41 days typical time on market (36 days in 2023)
2: Edinburgh - 51 days typical time on market (50 days in 2023)
3: Reading - 53 days typical time on market (80 days in 2023)
4: Ashford - 54 days typical time on market (56 days in 2023)
5: Bracknell - 54 days typical time on market (71 days in 2023)
Meanwhile, at the other end of the scale. The slowest five locations to sell a property
1: Soho - 241 days typical time on market (225 days in 2023)
2: Marylebone 236 days typical time on market (216 days in 2023)
3: Mayfair 233 days typical time on market (226 days in 2023)
4: Aberdeen 207 days typical time on market (220 days in 2023)
5: Charing Cross 200 days typical time on market (193 days in 2023)
Danny Luke, Quick Move Now’s managing director, commented: “Unsurprisingly, the figures indicate a mixed property market.
“Compared to this time last year, properties in 16 of the ‘best places to sell’ list now typically spend less time on the market. In the remaining four areas, properties are staying on the market longer.
“The ‘worst places to sell’ list is also mixed, with a 10-10 split between longer and shorter time on market.
“Prices continue to be conflicted. 50% of the best places to sell a property have a lower typical asking price than a year ago, 35% have a higher typical asking price, and 15% remain unchanged. This pattern is repeated in the worst places to sell a property.
“The current market is very much a tale of two halves. Properties that are desirable and priced well are still selling fairly quickly, but those that are initially overambitious and require price reductions are sticking on the market longer.
“If you’re hoping to buy or sell in the next few months, it’s important to get to know your local market. Keeping an eye on what’s for sale, pricing trends, and how quickly properties go under offer will give you a good overview of how the market is performing. This will help to ensure your expectations are realistic when you’re ready to proceed.”