30th May, 2020

Bromsgrove third best in the UK for quickest home sales

HOMES across Bromsgrove district are being snapped up with the town finishing the third best in the UK for having the quickest residential property sales in the last 12 months.

According to research released today by estate agent comparison site GetAgent.co.uk the average time for a house in the town to sell was 197 days – only bettered by Torfaen in Wales (193) and Nuneaton and Bedworth (191).

The data looked at the total average time to sell a home throughout 2019, from the first day it was listed on the property portals until the day it was marked sold by the Land Registry.

The average selling time for a residential property in the UK was 256 days and 295 in London from first listing to completion.

North Worcestershire fared well in the research with Redditch finishing 12th with an average of 209 days and Wyre Forest 15th (212).

It was not so good in the south of the county with the Malvern Hills finishing 20th from bottom. Homes there took an average of 309 days.

GetAgent.co.uk’s founder and CEO Colby Short said it was clear the ongoing market uncertainty surrounding Brexit took its toll with selling times statistically getting longer towards the end of the year.

He put that down to the usual ‘seasonal slowdown’ as Christmas approached and the December general election.

“However, as always, the UK property market is a patchwork quilt constructed of many different markets, all acting independently with their own levels of demand and rates of house price growth.

“So while the average home seller had no choice but to twiddle their thumbs for almost eight and a half months before completing, for many, this happened much quicker.

“Looking ahead, it’s now clear that December’s election result has spurred an almost immediate market revival and with high levels of activity returning on both the buyer and seller side of the fence, growing momentum should see the time taking to sell reduce substantially over the coming year.”

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