Properties in UK cities are taking longer to sell than they did a year ago, with an average of 102 days on the market before being sold or put under offer, according to analysis by the Centre for Economics and Business Research (CEBR) for Post Office Money.
The average time to sell was six days longer than in 2017. Selling periods varied widely, from just 39 days in Edinburgh to 131 days in Blackpool. Homes in Glasgow also sold quickly, at an average of 48 days.
Belfast and Swansea saw the biggest improvements, with homes selling 17 and 14 days faster than last year respectively. In contrast, properties in Bristol and Luton took 10 and 14 days longer to sell.
London homes took an average of 126 days to sell, reflecting a significantly slowed market. The report suggested that affordability constraints had hit demand in these areas, leading to longer selling times.
