Buyers snap up Glasgow homes in third of national average time
Homes in Glasgow sell three times faster than the UK average, being snapped up in only 11 days. Meanwhile, Wakefield is the slowest at 63 days, six times longer than the Scottish city and twice as long as the national average of 30 days.
Properties in Worcester and Belfast sell the next fastest, generally in under two weeks, while London hits the UK average of 30 days, ranking 21st. out of the cities analysed. The figures have been collated by Alto using a free Speed of Sale Index tool it has created for use by homeowners and agents.
Terraced and semi-detached homes sell fastest across the country at 26 days, while detached properties are listed an average of 41 days before an offer is agreed. Retirement and sheltered accommodation properties (98 days) and park and mobile homes (96 days) take the longest to sell.
Time to sell a flat rises by a third
Meanwhile, the time it takes for a flat to sell has risen by 34%, up from 29 days to 39 days, while the time taken to sell a one-bed or studio property has increased by 31%, from 32 days to 42 days.
Riccardo Iannucci-Dawson, CEO of Alto, said: “We sit on one of the UK’s biggest property datasets, and one number stood out: homes in Glasgow are typically agreed in just 11 days – the fastest anywhere in the country.”
He said pricing is key, however. “Where a home is priced for what local buyers will actually pay, it moves; and where it’s priced for what the seller hoped for 18 months ago it sits, with flats being the clearest example of what happens when that slips.”
TOP 10 FASTEST-SELLING CITIES IN THE UK
- Glasgow
- Worcester
- Belfast
- Newcastle
- Stoke-on-Trent
- Cardiff
- Portsmouth
- Bradford
- Sheffield
- Manchester
TOP 10 SLOWEST-SELLING CITIES IN THE UK
- Wakefield
- Swansea
- Peterborough
- Nottingham
- York
- Lincoln
- Chester
- Cambridge
- Wolverhampton
- Leicester
