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Selling a property is a stressful thing to do. How much do you sell for? Do you choose a buyer with a mortgage in place, or must they be a cash buyer? Do you meet the people you are selling to?
These types of questions will be the same, and the answers will have an impact on your decision, no matter where you are selling a property. But are there some areas in the UK where location makes the selling journey that little bit easier? Do location factors apply to selling as well as buying?
To find out we have looked into this and some other factors, such as housing demand and selling times to try to find the 5 best places to sell a home in the UK. Whilst it’s not an exact science, and of course things in the property market can change very suddenly, it seems on average that sales in the following locations have been higher than many others.
1. Cambridge
Firstly it has a world-renowned university and this makes Cambridge highly attractive on the world stage. It’s also an incredibly picturesque city with fascinating architecture. So it's no wonder that Cambridge tops the list as the easiest place to sell a home in the UK. Housing demand in the area dramatically outstrips supply in the historic city area, so homes sell very quickly and for top dollar. The average selling time is just 18 days – that’s quick!
2. London
Yes, London is expensive, but it’s still one of the greatest cities in the World, and that will always make it desirable despite the crazy prices. London has a huge population and a very strong economy and that has made it one of the quickest places to sell a home. On average, houses in London sell in just 19 days, with the most popular boroughs being Westminster and Kensington. And the diverse, vibrant job market attracts buyers from both the UK and abroad.
3. Bristol
Bristol seems to have created for itself the perfect conditions for sellers as they have low levels of housing stock for a City that boasts good job opportunities, culture, and nightlife. Bristol appeals to young professionals and families alike. Homes in Bristol have been selling in around 26 days on average.
4. Manchester
Manchester is another one of those cities that sits comfortably on the World stage; perhaps as much for its football names as anything else. Major property redevelopments and expansion all over the city have led to a really vibrant housing market and very high demand. The city's comparatively affordable prices (compare to London as an example) and its thriving entertainment scene have made it very popular with first-time buyers. The average selling time is 27 days.
5. Edinburgh
Edinburgh is known for many things, not least its festivals, architecture, and its bustling financial sector. The Scottish capital sees homes sell rapidly. Coupled with Edinburgh's strong economy and job market they have a low housing stock, which goes to create an active housing market. Properties in Edinburgh sell in about 28 days on average.
No place is perfect, and selling property can certainly be character building, but if you are going to buy something that you want to sell in years to come then looking at selling times definitely gives you a sense of the best places to consider purchasing. Of course these trends tend to change inline with shifting economic and social events, but if you use average selling times as a guide you can generally stay on the right track.
For advice on your existing mortgage or financing your first property please get in touch with one of our expert brokers: 01273 257165
