Homes are selling quicker than a year ago with more than half now moving from initial listing to SSTC in just two months, Zoopla has claimed.

The portal says its data shows 52% of sales were agreed within two months of a home being listed, a 3% increase on last year.

This means that in England and Wales, property spends an average of 36 days on the market before a sale is agreed, Zoopla says. Property in the north of England tends to move quicker than in the South, where prices are higher.

North beats South

Houses in the North West and North East regions of England take on average 32 days to sell and account for six of the top ten fastest moving markets in England and Wales (Manchester, Carlisle, Stockport Gateshead, Newcastle upon Tyne and Halton).

However, Waltham Forest in North East London tops the list this year when it comes to the fastest moving markets, at 19 days.

In Scotland, homes spend just 21 days on the market, which is 13 days faster than the UK average of 34 days.

Two- and three-bed quickest

Two and three-bed homes are the quickest-selling property type, with flats and 4+ bed homes taking longer to sell. The average time to sell a two-bed home is 23 days, two days faster than the previous year. Flats and 4+ bed homes take the longest time to find a buyer, taking an average of 31 days and 38 days.

 Richard Donnell  Executive Director at Zoopla, says: “It takes just over a month to agree a home sale across England and Wales, but this varies widely across the country and by property type with smaller family homes the fastest selling homes.”

Industry reaction

Toby Leek, NAEA President at Propertymark, says: “Regions such as the North West and North East have seen phenomenal growth over the last twenty-five years in terms of new infrastructure and jobs market appeal.

“This in turn has magnetised people towards certain towns and cities, as homebuyers search out a perfect location to potentially settle.

“There has been considerable public and private investment within such areas, with many large companies also choosing to locate their staff within key northern locations for the same positive reasons – mainly based on enhanced transport links and lower costs.”

Nigel Bishop, Founder of Recoco Property Search, says: “Whilst some properties will demand a premium due to location or nearby amenities, we are seeing fewer buyers willing to enter bidding wars – especially in parts of the UK where numerous properties have been put up for sale.”

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