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
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.