Properties in Glasgow are selling faster than anywhere else in the UK, with some homes agreeing a sale in as little as 11 days, according to data from property management software provider Alto.
The average property across the UK spends 30 days on the market, with London matching this national average exactly and ranking 21st of the cities analysed. At the other end of the scale, Wakefield in West Yorkshire was the slowest city, with homes taking 63 days to sell.
Flats and one-bed properties take longer to sell
The data also revealed that the time taken to agree an offer on a flat or apartment has increased over the last 12 months, from 29 days to 39 days. Similarly, the time taken to sell a one-bed or studio property has risen from 32 days to 42 days.
Alto, which is plugged into more than 6,000 estate agents nationwide, commissioned the research. The company has created a free Speed of Sale Index tool that shows homeowners how quickly properties sell in their area after entering their postcode.
Glasgow agents 'price homes right from day one'
Riccardo Iannucci-Dawson, CEO of Alto, said: “We sit on one of the UK's biggest property datasets, and one number stood out: homes in Glasgow are typically agreed in just 11 days - the fastest anywhere in the country.
“The housing market is always fluctuating, and price points, stock levels, improving transport links, and chains all play a part - but what we're consistently seeing in Glasgow this year is agents who know their patch inside out and price a home right from day one.
“Where a home is priced for what local buyers will actually pay, it moves; and where it's priced for what the seller hoped for 18 months ago, it sits with flats being the clearest example of what happens when that slips.
“Wherever you're selling, the first fortnight on the market is the part that counts, so get the asking price right on day one rather than discounting your way there over three months.”
Detached homes slowest to sell
The findings showed that terraced and semi-detached homes were the fastest-selling property types across the country, generally agreeing an offer 26 days after first being listed. Detached properties take the longest to shift, requiring 41 days on average to agree an offer, after retirement and sheltered accommodation properties (98 days) and park and mobile homes (96 days).
Mark Adams, managing partner of G&S Properties in Glasgow, shared his opinion on why properties in Glasgow are in such high demand: “In my opinion, the Glasgow market is strong due to a chronic undersupply of property at accessible price points and a surge in demand for both urban and rural living.
“If you are looking to sell, you should find a reputable, independent estate agent who will advise on setting an accurate, competitive asking price.
“They should guide you on presenting the property well with professional photography, including drone photography and video, to boost kerb appeal, increase viewings and negotiate a premium sale.”
Top 10 fastest and slowest-selling cities
The top 10 fastest-selling cities in the UK are: Glasgow, Worcester, Belfast, Newcastle, Stoke-on-Trent, Cardiff, Portsmouth, Bradford, Sheffield, and Manchester. The slowest-selling cities are: Wakefield, Swansea, Peterborough, Nottingham, York, Lincoln, Chester, Cambridge, Wolverhampton, and Leicester.
