New analysis has revealed the average time taken to sell a home – from a property first being listed for sale to completion – has fallen by 44 days over the last 12 months.
GetAgent.co.uk monitors the time it takes to sell a home across every postcode of England and Wales.
They found that over the last 12 months, it has taken an average of 250 days to sell a home. That’s 44 days quicker than the average of 294 days seen across the previous 12 months.
Quickest places to sell a home
GetAgent said the SW1Y postcode of Westminster is currently home to the shortest time frame to sell a home, averaging just 79 days over the last year.
Northumberland’s TD15 postcode also ranks high, with the average home taking just 92 days to sell, with SY15 in Powys (117), LA17 in South Lakeland (121), and SA34 in Carmarthenshire (125) also amongst the top five.
Largest reductions in time to sell a home
The W1D postcode in the London Borough of Westminster has seen the average time it’s taking to sell a home fall to 232 days over the last 12 months, a huge 981 day reduction versus the 1,213 days it took for homes completing over the previous 12 months.
Westminster’s W1W postcode (-652), South Lakeland’s LA17 (-501), the LL63 postcode in Anglesey (-473) and the SY15 postcode of Powys (-417) have also seen some of the largest reductions in the average time to sell for homes completing over the last year.
Co-founder and CEO of GetAgent.co.uk Colby Short said:
“Despite the property market instability spurred by last September’s mini budget, home sellers and buyers are continuing to transact and at a greater speed over the last 12 months when compared to the 12 months prior.
In some areas there has been a dramatic reduction in the time it takes to sell a home, although this certainly hasn’t been the case across the board.”
