UK property selling 11 days faster than last year

UK property selling 11 days faster than last year

The average time to sell a house in the UK is now around eight weeks, according to recent research from the Post Office.

When compared with this time last year, houses are now selling 11 days faster, on average. The report also shows that recovery is beginning to occur outside of the the south of England.

Estate agents in Liverpool and Southend-on-Sea may find it interesting that houses in these areas are taking the least amount of time to sell.

Properties in Liverpool are spending an average of 18 days on the market, providing evidence of recovery in the North of England.

John Willcock, head of post office mortgages, said: “2013 has been a real turning point in the UK housing market with annual house price growth currently 3.4 per cent, the highest level it has been since November 2010.”

Schemes such as the government's Help to Buy initiative are believed to be encouraging buyers back into the market, and the speed in which houses are being sold could be indicative of the current supply and demand imbalance.ADNFCR-1222-ID-801662456-ADNFCR

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