Sunderland found to be slowest place to sell a home

Recent research has revealed Sunderland to be the slowest location in England to sell a home.

According to Ready, Steady Sell, the average time it takes to sell a property here is 302 days, followed by Bradford at 287 days.

Whilst the data indicated that the slowest areas tended to be in across Northern towns and cities, it also found that properties in some parts of London seemed to stay on the market for a long time. The average property in Knightsbridge, for example, took 235 days to sell, followed by Charing Cross at 231 days.

The data also looked into the reasoning behind the locations which buyers were choosing, identifying that the school catchment area was a significant attraction for many house-hunters. Location and the size of a potential property were also key when selecting somewhere to live, as well as the amenities in the local vicinity.

Where selling was concerned, 29% of sellers took the view that having off-street parking was an attractive feature, with 23% believing that their garden would give their property an edge when it came to impressing potential buyers.

Commenting on the findings was David Sessford of Ready Steady Sell. He stated: ‘Anyone looking to sell their property quickly in 2018 on the open market may struggle in these areas without some added influencing factor, like being in the catchment area of a good school.

‘Sunderland is particularly a difficult place for most estate agents to sell property quickly at market value prices, and vendors need to be realistic with their asking prices in order to achieve a quicker than average home sale.’

 

Today's Conveyancer