Semi-detached houses have recorded the fastest sales of any property type between June 2022 and June 2023, new research from Property Solvers has revealed.
According to its analysis of over 101,126 house sale transactions, the house buying specialists found that 32,109 semi-detached homes took an average of 150 days to sell during this 12-month period.
Close behind came terraced houses, where 30,009 transactions took an average of 152 days to sell from start to finish.
28,664 detached property home sales took an average of 155 days to complete over the same period.
Flats and apartments were found to be the slowest to sell – as 10,344 properties took an average of 176 days to go through the sales process.
Ruban Selvanayagam, Property Solvers co-founder, said: “It may come as little surprise that flats take longer to sell due to the extra Law Society paperwork and protracted legal enquiries with freeholder and management companies.
“Although houses can often come with their own set of issues, the process tends to be a little easier to navigate.”
The research also demonstrated that properties were selling in as little as 2 weeks on occasions.
Selvanayagam continued: “These are often cash purchases where buyers are not reliant on mortgage finance and where the conveyancing paperwork is already prepared well in advance to facilitate a quicker transaction.
“In terms of getting a speedier sale – regardless of the type of property transaction – both the buyer and the seller need to take a proactive role in ensuring things move in the right direction.”
He concluded: “Working with a good estate agent, conveyancing solicitor and mortgage broker is also crucial.”
