Cities with fastest selling property markets revealed
Riccardo Iannucci-Dawson, of Alto, says Glasgow tops the league table with deals being agreed in just 11 days.
Homes in Glasgow are selling in just 11 days, three times faster than the average across Britain, new figures reveal.
Worcester and Belfast join Glasgow as the cities where houses sell the quickest, with many going in less than two weeks.
Wakefield is the slowest city for sales, with homes spending twice as long as the national average on the market before an offer is agreed.
The number of days it takes to reach agreement on a flat or apartment has jumped 34% in the past 12 months, from 29 to 39 days.
London average
The average property is spending 30 days on the market, the data from property management software provider Alto shows.
London matched the average exactly, ranking 21st of the cities analysed.
What we’re consistently seeing in Glasgow this year is agents who know their patch inside out”
Riccardo Iannucci-Dawson, Chief Executive of Alto (pictured), says: “The housing market is always fluctuating, and price points, stock levels, improving transport links, and chains all play a part – but what we’re consistently seeing in Glasgow this year is agents who know their patch inside out and price a home right from day one.”
Mark Adams, Managing Partner at G&S Properties in Glasgow, says: “In my opinion, the Glasgow market is strong due to a chronic undersupply of property at accessible price points and a surge in demand for both urban and rural living.”
Property types
The findings also showed terraced and semi-detached homes were the fastest-selling property types, generally agreeing an offer 26 days after being listed.
After retirement and sheltered accommodation properties (98 days) and park and mobile homes (96 days), detached properties take the longest to shift, requiring 41 days on average to agree an offer.
Meanwhile, the time taken to sell a one-bed or studio property has increased by 31%, from 32 days to 42 days.
