Properties are taking longer to sell than a year ago.
Homes in cities were on the market for 102 days before being put under offer. This is six days longer than in 2017, according to the Centre for Economics and Business Research (CEBR). Selling periods ranged from an average of 39 days in Edinburgh to 131 days in Blackpool.
Completion of deals might take a good deal longer than this. This reflects legal demands and the practicalities of transferring and completing the conveyancing .
The research for Post Office Money discovered that properties in Glasgow also marketed quickly, at an average 48 days.
Belfast and Swansea recorded the largest fall in the time spent on the market – at 17 and 14 times less respectively compared to last year. In contrast, properties in Bristol and Luton were carrying 10 and 14 days longer to market than last year.
Homes in London, where the market has slowed considerably lately, took an average of 126 days to sell.The report suggested constraints had hit requirement in these areas, leading to selling times.