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The 10 UK places where homes sell quickest

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22/07/2020
If you want to buy a property during the eight-month Stamp Duty cut, you may need to get moving now to complete in time
The 10 UK places where homes sell quickest

Edinburgh is the best place in the UK for a quick sale, with the average property transaction taking just 78 days or 2.6 months in 2020, said GetAgent.co.uk.

The online comparison site found that Wigan (86 days), North Lanarkshire (91 days), Bolsover (91 days), Nuneaton and Bedworth (94 days) and East Dunbartonshire (94 days) also rank within the quickest spots to a fast-moving property purchase.

Bristol, Ashfield, Mansfield and Glasgow complete the top 10.

Race to beat Stamp Duty deadline

Overall, the average time to sell a property in the UK so far this year has risen to 144 days – up 14% or 18 days longer compared to last year.

If you’re a buyer looking to take advantage of the recent Stamp Duty cuts this is important, because it means you don’t have much time to get a purchase completed within the eight-month holiday period.

In fact, depending where you want to buy, it may already be too late. The slowest pockets of the market are currently the City of London (271 days), Aberdeenshire (269 days) and Moray (261 days), where the average sale takes more than 260 days or nine months.

Founder and CEO of GetAgent.co.uk, Colby Short, said: “An overall increase in the time to sell will come as no surprise, given the industry-wide restrictions implemented during the height of the COVID-19 crisis.

“While the market has seen a rejuvenated level of demand bolstered by the recent stamp duty holiday, many homebuyers will have to act quickly to see the benefit, while in some areas they are unlikely to benefit at all due to much longer transaction times.”

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