London has just been named the hardest place to sell a house in the UK.
A piece of research that examined over 8,500 house sales by online estate agent House Network found the hardest places to sell is London’s W postcode. This includes the exclusive districts of Mayfair and Kensington where the average price of a house exceeds £3m.
Homes here require an average of 20 viewings, while staying in the capital, vendors in Wembley and Ilford complete the bottom three on 22 and 23 viewings respectively
The study found that six of the 10 slowest-selling postcodes were within the M25 and the capital is responsible for all three areas found to be the hardest to sell a property in.
At an average of 16 viewings per sale, house sellers in London have a much tougher job than their equivalents in the North of England, where homes go after just 11 viewings.
Carlisle is the easiest place in which to sell in the UK, with houses being viewed just six times before they’re bought. Vendors in Glasgow, Wrexham and Perth (all averaging seven) are not far behind.
Commenting on the report, Mark Readings, House Network CEO, said: “What’s clear from our research is just how relatively simple it is to sell your house, even in London where vendors have to work that bit harder to take those ‘For Sale’ signs down.
“When you place this into the context that selling a house is almost certainly the biggest sale we make in our lives, 15 viewings is no time at all.
“The North / South divide in the property market is well documented, but it’s interesting to see that it also rings true with how many viewings per sale and not just price.
“One of the benefits of an online estate agent like ourselves is that the vendor is the one showing the prospective buyer around their home. They know their home better than anyone so are the best placed to sell it rather than an agent who may be stepping inside the property for the first time.”
Top 10 fastest selling areas (average viewings per sale)
Top 10 slowest selling areas (average viewings per sale)
West London (W postcode) 20
North London (N postcode) 16