Sales being agreed in the quickest time since 2016
In the last five years, there’s been a 42% drop in how long it takes to accept an offer on the average UK home.* This is a fall from 45 days back in 2016 to a mere 26 days in 2022 – less than a month!
However, specific periods still beat the average. While sales slow at the beginning of the year (54 days), houses fly off the shelves in April in just 36 days.** Bear in mind that we’d expect to see variations like this because the market tends to quieten over Christmas and during the summer holidays.
Different regions have also proven more in demand than others, which helps fuel speedy sales. In particular, the East Midlands, the East of England, and London are popular spots for buyers right now. Slower areas include Yorkshire and the Humber, the West Midlands, and Wales, but overall, houses across the country remain in high demand.
What does this news mean for you? Both buyers and sellers are benefiting from a quicker sale process, and with the market set to ramp up again in autumn, now is the perfect time to think about moving in time for Christmas.
If you’d like to take advantage of the favourable market conditions, why not contact us to book a valuation?
*According to an analysis of Zoopla’s listing data conducted by money.co.uk.
**Average between 2016 to 2022.
