Cambridge "quickest to sell houses"

17/07/14

By Roger Baird

Houses sell quicker in Cambridge than in any other element of the nation, according to a new survey.

It requires 27 days on average for properties in the university city to change hands, said house website Rightmove.

The slowest area for shifting a property is Powys in mid-Wales, exactly where it takes an typical of 113 days to sell a residence.

But overall Rightmove found that the housing market place has gained pace with properties across the UK on average promoting 10 days quicker than a year ago.

Average London residence fees £492,000

Earlier this week information from the Office for National Statistics revealed that UK property prices rose 10.5% compared to a year ago, whilst rates in London jumped 20.1%.

This means that the average property in the capital now expenses £492,000, compared to £262,000 across the country.

Next to Cambridge the 2 other fastest promoting locations in the UK are the London boroughs of Lewisham and Sutton, taking 29 days in each case to exchange contracts.

The 2 slowest promoting places, apart from Powys, are Gwynedd in north-west Wales exactly where it takes 112 days to full a sale, and Sefton in Merseyside, exactly where it requires 106 days.

Speed ‘key for both buyers and sellers’;

Despite the fact that selling instances have fallen across the nation, London has outpaced other regions with completion instances falling 32% from 60 to 41 days.

The smallest fall was in the North East with a 2% drop from 90 to 88 days.

Rightmove director Miles Shipside stated: “This shows just how distinct the pace of the housing industry is at a regional level, and displays that speed is crucial for both buyers and sellers.

“Purchasers want to know that they can be the very first to find new properties on the marketplace, and sellers count on to have their house marketed as speedily as achievable to discover a appropriate buyer.”

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Cambridge "quickest to sell houses"