UK homes take 30 days to sell on average, with Glasgow fastest | Personal Finance | Finance

Figures from property management software provider Alto, which is plugged into more than 6,000 estate agents nationwide, found homes move quickest in the Scottish city – with Glasgow taking the number one spot where sales are being agreed in as little as 11 days. However, across the UK, the average property spends 30 days on the market.

London matched this national average exactly, ranking 21st of the cities analysed, while Wakefield was the city where homes take the longest to sell – spending 63 days on the market before being sold.

The property management CRM provider, which commissioned the research, has created a free Speed of Sale Index tool showing homeowners how quickly properties sell in their area by entering their postcode.

Riccardo Iannucci-Dawson, CEO of Alto, said: “We sit on one of the UK’s biggest property datasets, and one number stood out: homes in Glasgow are typically agreed in just 11 days – the fastest anywhere in the country.

“The housing market is always fluctuating, and price points, stock levels, improving transport links, and chains all play a part – but what we’re consistently seeing in Glasgow this year is agents who know their patch inside out and price a home right from day one.

“Where a home is priced for what local buyers will actually pay, it moves; and where it’s priced for what the seller hoped for 18 months ago, it sits with flats being the clearest example of what happens when that slips.

“Wherever you’re selling, the first fortnight on the market is the part that counts, so get the asking price right on day one rather than discounting your way there over three months.”

The findings also showed terraced and semi-detached homes were the fastest-selling property types nationally, generally agreeing an offer 26 days after being listed.

Retirement and sheltered accommodation properties take a whopping 98 days to shift, and park and mobile homes take around 96 days. Detached properties require 41 days on average to agree an offer.

The data revealed the number of days it takes to agree an offer on a flat or apartment has increased by 34% in the last 12 months, from 29 days to 39 days. Meanwhile, the time taken to sell a one-bed or studio property has increased by 31%, from 32 days to 42 days.

Mark Adams, managing partner of G&S Properties in Glasgow, shared his opinion on why properties in Glasgow are in such high demand: “In my opinion, the Glasgow market is strong due to a chronic undersupply of property at accessible price points and a surge in demand for both urban and rural living.

“If you are looking to sell, you should find a reputable, independent estate agent who will advise on setting an accurate, competitive asking price.

“They should guide you on presenting the property well with professional photography, including drone photography and video, to boost kerb appeal, increase viewings and negotiate a premium sale.”