Cambridge: The fastest selling place in Britain

  • 10 years ago
  • Uncategorized

Cambridge is the fastest selling place in Britain, according to Rightmove.

The property portal’s latest report shows that property for sale in Cambridge takes an average of just 27 days to sell, even faster than the London boroughs of Lewisham and Sutton, where homes spend 29 days on the market.

Powys in Wales is home to the slowest moving properties, where sellers can expect an average time between first listing and sale agreed of 113 days.

Across the whole of Great Britain, though, the market conditions for sellers has, on average, improved, with the typical number of days spend on the market down to 65 from 75 days last year.

In the slower selling markets properties could be for sale for an average of more than 100 days before a deal is made, with areas in Wales and the North making up the majority of the list. 

Although some of the slower towns have seen increases in time to sell compared with 2013, all regional averages have fallen showing the housing market recovery to be broad-based.  The biggest falls year-on-year were in London (32 per cent drop from 60 to 41 days), the South East (22 per cent drop from 65 to 51 days) and the East (20 per cent drop from 70 to 56 days). The North East sees the smallest fall of 2 per cent (90 to 88 days).

Miles Shipside, Rightmove director and housing market analyst comments: “This new data shows just how different the pace of the housing market is at a very local level, and clearly displays that speed is key for both buyers and sellers.  Buyers want to know that they can be the first to find new properties on the market, and sellers expect to have their property marketed as quickly as possible to find a suitable buyer. When selling a property you need to consider local market conditions to help set the asking price and ask your agent how soon they can have your property on the market.”

Photo: ShreepRUs

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