The best and worst places to sell a property in England and Wales have been revealed in a new survey.
Rochester tops the list as the best place to sell, with a typical time on market of just 52 days. London, at the other end of the scale, is home to all ten locations with the longest time on market, according to the figures released by Quickmovenow.com and Home.co.uk.
Danny Luke, Quick Move Now’s managing director, said: “It has been well-documented throughout the last year that London’s prime property market has struggled, and that can clearly be seen in these time-on-market figures.
“Over the last year, we have seen an exodus from the capital. Increased homeworking has given homeowners looking for more space the flexibility to widen their search area and get more square footage for their budget.
“This, added to the loss of international visitors, has had a big impact on prime London residential property, and homeowners looking to sell are faced with a challenging market.”
Stamp Duty impact
However, the positive impact of the Stamp Duty holiday is clearly visible at the other end of the market.
“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,” adds Luke.
“This time last year we were expecting COVID-19 to have a devastating impact on the UK property market, but thankfully that doesn’t seem to have materialised.
“I am hopeful that the government’s new range of 95% mortgages will continue to bolster the market beyond the end of the extended Stamp Duty holiday, and we continue to see a strong, healthy property market in the coming months.”