HOMES in the cities of Edinburgh and Bristol are the fastest selling in the UK. Bristol properties are sold within 51 days on average. Meanwhile in Edinburgh it takes 53 days on average for homes to be snapped up.
That’s according to the latest City Rate of Sale report from Post Office Money Mortgages, which reveals that the slowest cities for house sales are Swansea and Liverpool. There, properties take more than 100 days to sell, on average.
Meanwhile Edinburgh has seen the biggest improvement in the time it takes to sell a home, with the time now 25 per cent quicker than last year.
Despite being property hotspots, London and Brighton have seen the biggest increase in the time it takes to sell a property. In the capital it now takes 20 per cent longer than it did last year and in Brighton, 24 per cent longer.
John Willcock, head of mortgages at Post Office Money, said this is due to increased competition as more people put their homes on the market: “House prices continue to rise across the country but eager sellers should remember that this might not be any guarantee of a successful sale. The attractive asking prices can lead many people to put their property on the market, leading to competition in the local market. Even property hotspots such as London are not necessarily guaranteed to sell quickly.”
Overall in the UK it takes on average 91 days to sell a property.
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