UK properties are selling at their fastest rate since 2007, with a standard property taking just 88 days to sell on average.
Unsurprisingly, properties in London are the quickest to sell, with the average London property being on the market for just 43 days. Move with Us, a residential property group, found that in 2014, property is shifting on average 16 days faster than in 2013, an acceleration of over 15%.
The South East of London has seen its fastest property sales in five years, with an average sale time of just 59 days.
Robin King, Director at Move with Us, said: ‘The market has gained a spring in its step thanks to increased confidence and more readily available funding bringing more buyers to the market.’ He added, ‘ Due to faster timescales, buyers should do all they can to get ahead of the competition and make sure they secure their dream home.’
Whilst property in the North still takes more than twice the amount of time to sell as a London property, homes in the North East experienced the greatest change in terms of selling times. Earlier this year, a property in the North East took on average 138 days to sell; yet, this was an improvement of roughly 26% on previous years.
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