The recent analysis provided by GetAgent.co.uk, an estate agent comparison site, uncovers interesting trends in the current housing market. Although the speed of price growth has been the sign of a slower market, the time it takes for a property to be sold in England and Wales has experienced an average decrease of 44 days.
Analysts at GetAgent keep a close eye on how long it takes for a home to be sold – an indicator of how well the market is performing. This figure has recently dropped off significantly and is just another illustration of how buyers and sellers are coming together much faster than expected over the last couple of months.
Amidst a period of slowdown and uncertainty, a seller’s timeline of getting their property onto the market and sold remains relatively stable and encouraging. This is great news for many home owners, particularly those looking to take advantage of a soft market and get the most out of their house sale.
The new figures also show that London has had the biggest reduction in selling time out of any region in England or Wales. From July 2018 to October 2018, the average sale time decreased by an impressive 57 days. This is a notable decrease and could mean that the market could be ready to start trending upwards at some point in the near future.
It’s likely this trend is also echoed in localised markets around the country, particularly with greater levels of competition between buyers and sellers.
The current level of choice for buyers and their ability to act quickly when the right opportunity presents itself should be taken into account when considering the overall state of the housing market and the shifting dynamics of the property industry.
Overall, despite the challenges posed and the expected slowdowns, the data from GetAgent.co.uk is a positive sign that the property market is far from over and that interest from buyers and sellers is still as active as ever.
Recent findings from GetAgent.co.uk indicate a promising picture for the housing market. While house price growth has been looking a little lacklustre, the time it takes to sell a home across England and Wales has dropped by an average of 44 days. There is a clear indication that buyers and sellers are managing to come together more quickly than expected, and this is especially good news for those looking to take advantage of the current soft market. The greatest decrease was seen in London, where the average sale time dropped by an impressive 57 days.
It looks as though customers are still willing to invest in the property market despite the overall slower trend, with buyers and sellers both acting quickly to take what they believe to be a good opportunity. As a result, the localised markets are likely to be echoing this nationwide trend, which could pave the way for a market upturn in the near future.