Research from the TwentyCi and TwentyEA Property and Homemover Report has highlighted significant regional variations in how quickly different types of properties are sold across the UK.
Detached homes in Wales are the slowest to sell, taking an average of 92 days, which is 18% more than the national average.
In contrast, semi-detached homes in Scotland are selling the fastest, typically taking just 37 days, 37% quicker than the national average.
In England, the extremes are seen in Inner London flats and terraced homes in the West Midlands, taking 89 and 53 days to sell, respectively.
The study, which carried out an in-depth analysis across all UK regions, also reviewed key metrics like the percentage of initial price achieved (PIPA), fall-through rates, and price change rates, providing a nuanced picture of the current real estate market.
Katy Billany, executive director of TwentyEA, said: “Our analysis demonstrates the strength of the Scottish market. Properties here sell fastest, are most likely to sell, proportionately sell for the highest price, are less likely to be reduced and are significantly less likely to fall through, because of the Scottish legal system.
“Throughout the rest of the country, the picture is more varied. Understanding how local market trends compare nationally is vital if agents are to increase their likelihood of winning an instruction. Having the very latest data at their fingertips ensures they can enhance their excellent service level and communicate an informed opinion of the market among vendors and potential landlord clients.
“While the market is performing well, all things considered, we recognise there are challenges with mortgage rates and possibly a new government in the coming months, meaning up-to-date market analysis has never been more important for sellers.”
