Often a long and frustratingly slow process, buying or selling a property in the UK can test the patience of saints. Never ending bargaining periods, middle agents, and for some, even finding a suitable home in the first place can all mean that from start to end, buying or selling a property can take months, sometimes more.
Detailing the locations with the fastest moving property locations in the UK, new research from Compare The Market takes into account the number of days on the market and how many years current owners have lived in their properties, as well as other helpful information such as estate agents in the area and the number of properties available.
Top hot spots
Regardless of whether you’re the buyer or the seller, you want to know if that property will move quickly and keep your stress low. Have a look at the best options for getting it done below:
1. Canterbury – Canterbury is one of the most popular tourist cities in the UK, thanks to its history and beauty. But it’s also a great place to live, so the fact that properties sell on average in 28 days, the lowest in the country, is vital info for potential inhabitants.
2. Bristol – A more urban type of living than Canterbury, Bristol is a great option for those looking to stay in a busy city, and with properties only owned by their current owners for 2.5 years on average, new buyers need to move quickly to lock a place down.
3. Southampton – Southampton properties go in a blink, being only on the market for an average of 40 days. Current residents have lived there for 7.2 years on average, too – meaning the properties can stay locked away for a bit. Keep alert!
4. Manchester – Like London, Manchester is one of the UK’s biggest business and living areas, but unlike the capital, 26th, Manchester properties are likely to come around quickly – with the shortest average time inhabited by their current owners, at only 2.2 years.
5. Nottingham – Nottingham is popular with both students and workers, due to its Russell Group university and a powerful local economy. Like Manchester, current owners haven’t lived there long, 2.8 years on average, so there’s a good chance of fast turnover.
Slow London living
Despite being the UK’s most populous city and the capital – as well as a popular place to live – it can actually be tough trying to sell a place. Apart from the high costs, London struggles with getting attention from estate agents, with only 41 per 100,000 people, one of the lowest in the UK.
Even more telling is how long properties stay on the market – an average of 89 days, faster only than a handful of cities, including Cardiff and Hull.