Where are family homeowners most gloomy about being able to sell?
Nearly three quarters (71%) of family homeowners in Wales anticipate waiting more than three months to receive an acceptable offer for their property and in some areas they expect to wait considerably longer, according to research from home buyer Quick Move Now.
This is compared to an average expectation across England and Wales that it will take between one and three months to secure a buyer – 56% of respondents are confident of selling in this time frame.
In London sellers are optimistic, with 50% of vendors reckoning they will sell within one month of instruction.
Welsh family homeowners are right to be concerned, as there are some pockets where it is particuarly difficult to flog a family home. Llandudno and Colwyn Bay in North Wales are both in the top 10 worst places in the country to sell a house. It takes on average 390 days to sell a house in Llandudno and 316 days in Colwyn Bay.
Danny Luke, managing director of Quick Move Now, said: “Our findings show that hopes for a swift property sale by family homeowners vary considerably from one region to another.
“Expectations are lowest in parts of Wales with many vendors resigned to losing out on their onward purchase as a result.
“In 2015 almost a fifth of the houses we bought in Wales to enable vendors to sell their property quickly for cash were from Llandudno which is the hardest place to sell a house throughout England and Wales – it currently takes an average of 390 days to sell a property here.”