The time it takes to sell a home in England has increased by almost two weeks (12 days) compared to last year, with properties now remaining on the market for an average of 34 days before a sale is agreed, according to the latest data from Zoopla.
Liverpool leads as the fastest-selling market in England, with homes typically taking 17 days to sell, which is significantly below the UK average. Conversely, properties in Southern England, Wales, and the Midlands are taking nearly two weeks longer to sell than they did in 2022.
Waltham Forest stands out in London as the only borough where properties are selling faster than the UK average, taking just 24 days to agree on sales.
The two-bedroom terrace house has emerged as the quickest to sell in eight out of eleven regions across the UK, while four-bedroom detached houses are taking the longest time to find buyers.
Izabella Lubowiecka, senior property researcher at Zoopla, said: “Over the last 12 months, the time to agree a sale has increased by almost two weeks.
“This is due to a few factors: there are fewer buyers in the market alongside cost of living concerns and higher mortgage rates which has meant many have had to pause a search for their next home.
“However, we are now simply seeing a return to more normal market conditions experienced in the years leading up to the pandemic. Anyone thinking about selling should bear this in mind and be prepared that it may take longer to sell their property than in recent years.”
