If you are planning to sell your home this year, you might be wondering how long you can expect to wait until a viewer becomes a buyer.
If you have found your dream property and can’t wait to move in, waiting for a buyer can be frustrating. Meanwhile, in some cases, you might be hoping that the move takes a bit longer due to work or family commitments.
In 2024, the UK housing market has shown signs of both stability and fluctuation, affecting the average time to sell a house. Meanwhile, other key factors such as interest rates, economic conditions, and housing supply and demand has also influenced this.
According to recent data, the average time to sell a house in the UK is approximately 60 to 75 days, however, this can vary significantly based on location and property type.
Figures show the time it takes to sell a house in the UK is not uniform across the country and different regions exhibit different market behaviours.
Average time to sell a house by region
- London – The capital city remains a unique market. Despite a slight cooling compared to the peak years, London properties still attract significant interest. The average time to sell a house in London is around 50 to 60 days. High demand areas, such as Kensington and Chelsea, often see quicker sales compared to outer boroughs.
- South East and East of England – These regions are experiencing strong demand due to their proximity to London and excellent transport links. The average selling time here is about 55 to 65 days. Towns like Reading, Cambridge, and Brighton are particularly popular, contributing to faster sale times.
- Midlands and North of England – The Midlands and the North show more variability. Cities like Birmingham and Manchester have vibrant markets with average sale times of 60 to 70 days, driven by urban regeneration and growing economic opportunities. However, more rural areas may see longer times due to lower demand.
- Scotland, Wales, and Northern Ireland – These regions often have distinct market dynamics. In Scotland, the average time to sell a house is approximately 50 to 60 days, thanks to the efficient Scottish conveyancing process. Wales and Northern Ireland see average times of 60 to 70 days, with variations depending on urban versus rural settings.
What affects the average time to sell a house?
- Interest rates – The Bank of England’s interest rate policies significantly impact mortgage affordability. In 2024, relatively stable interest rates have maintained buyer interest, supporting reasonable sale times.
- Housing supply – The availability of houses on the market affects sale times. Areas with higher inventory levels may see longer sale times due to increased competition among sellers.
- Property prices – Higher-priced properties generally take longer to sell. In contrast, mid-range and affordable homes often move more quickly due to wider demand.
- Market sentiment – Buyer and seller confidence can fluctuate based on political events, economic forecasts, and media reports. Positive sentiment tends to reduce sale times, while uncertainty can extend them.
- Economic conditions – The economic environment such as employment rates, and consumer confidence, plays a crucial role. In 2024, moderate economic growth and stable employment rates have contributed to a balanced market.
5 tips for sellers for a quick sale
For homeowners looking to sell their property in 2024, several strategies can help speed up the process:
- Competitive Pricing – Setting a realistic price based on recent market data can attract more buyers and lead to quicker offers.
- Effective Marketing – High-quality photographs, virtual tours, and engaging property descriptions can make a significant difference.
- Choosing the Right Agent – An experienced local estate agent can provide valuable insights and marketing support.
- Home Staging – Presenting a well-maintained, clutter-free home can enhance its appeal to potential buyers.
- Flexibility – Being flexible with viewing times and negotiations can facilitate a faster sale.
Further reading
How to get your home ready for viewers this summer – Oakwood Property Solicitors
Selling – Oakwood Property Solicitors
WHAT TO DO NEXT
To make a start on the next step in your property journey, get in touch today to book a consultation with a member of our team. Call us on 0113 218 5727 to find out how we can help you.
