Home and Garden
Where’s The Hottest Place to Sell a Home in the UK?
Just like a student may shout, I need help to get My Homework Done, you can also shout, I need help to sell my home when you can’t get the right buyer. If your home has been on the market for some months now and it doesn’t seem like it will sell anytime soon, its location could be the reason. On average, homes that are located in some areas in the UK are selling faster than others. While some homes are selling within one and a half month, others are taking longer than 295 days to sell. Thus, there are the hottest places to sell a home and the worst places to sell a home in the UK.
Over the past few years, there has been a significant shift in property slowdown from North UK to South UK. The slowdown in London and South East is particularly highlighted by the increased time that properties are taking to sell. Historically, the UK property market has shown a clear North-South division in terms of the best places to sell a home and the worst places to sell a home. However, this trend is now changing gradually with the Greater London making up 9 of the twenty worst places for selling a home.
How Long Does Selling a Home in the UK Takes?
The answer is basically dependent on where the home is located. For instance, a home in Wales can take up to three times to sell when compared to a home in Reading. Reading is the hottest place to sell a home in the UK because homes in this area take about 64 days to sell. Basically, Reading is the best place to sell a home in Wales and England according to the number crunching that was done by Quick Move Now, a home buyer.
The runners-up Worthing and Bristol were beaten by the commuter belt town, where houses take about 87 days and 74 days to sell respectively. The study indicates that homeowners in London and South East are getting the quickest sales. 68% of those interviewed optimistically expected to take less than one month to get satisfactory offers.
By comparison, UK homeowners expect to take an average of one to three months for their homes to sell. 71% of Welsh homeowners expect to wait over three months to sell. Nevertheless, even homeowners whose properties are not situated in the hottest places to sell homes in the UK do not have despair. That’s because even such homes tend to sell faster when located close to amenities like schools.
Why Selling Homes in Some Places is a Challenge
2018 has particularly been a challenging year so far for the property market in the UK. Although some parts of the UK have maintained buoyant and positive conditions, others have suffered the effects of the market uncertainty. This uncertainty can be attributed to economic challenges and political turbulence. Thus, how quick a home in the UK sells is largely dependent on the effects of economic challenges and political turbulence in the area where it is located.
Having a home that takes longer than expected to sell is definitely a frustrating experience. The inconvenience that comes with this experience is not the only challenge. In most cases, when a home sells within the first 12 days of being in the market, it achieves its highest asking price. On the other hand, when a property stays in the market for up to a month, its price drops to about 98%. The drop goes down further to 96% after two months and 94% after 3 months.
Clearly, you need to own a property where’s the hottest place to sell a home in the UK. That’s because you need money quickly just like a student needs a paper quickly when they buy a research paper.