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Where is the UK's fastest property selling location?

Wednesday 9th November 2016

Properties in Essex are taking the quickest time to sell, according to new research.
 
Knight Frank's new tool myPropertyGenius has revealed that the county's CM18 postcode is England and Wales' fastest selling location.
 
The postcode – which covers Brays Grove, Latton Bush and Tye Green in Harlow – has an average selling time of just 36 days.
 
BS3 in Bristol and SG16 – which covers Henlow and Lower Stondon, near Bedford – are the next best two performing areas, both with an average selling time of 40 days or under.
 
The top ten selling locations in England and Wales was made up by B98 (Redditch), ME8 (Rainham, Kent), SG6 (Letchworth Garden City), DE45 (Bakewell, Peak District), SM5 (Carshalton), SK4 (Heaton Chapel, Stockport) and TN24 (Ashford, Kent). All of those locations have an average selling period of 42 days or below, according to the research.
 
London and the surrounding areas' best performing postcodes are SM5 and DA14 – covering Sidcup and Foots Cray – both with an average sales time of 42 days. 
 
These are the only London and the surrounding area postcodes with an average selling time comparable to the England and Wales top ten. 
 
The remainder of the London top ten is made up by locations with an average selling time of 45 days and above. 
 
SE28, for example – which is the tenth fastest selling location in the capital – has an average sales period of 50 days.
 
“London has seen a shift in fortunes over the past 12 months, power has shifted in the favour of buyers, as their number has fallen while stock volumes have risen – buyers have the luxury of taking more time over buying decisions – as a result sales are slower," says Liam Bailey, Knight Frank's global head of research.
 
He says this partly down to stamp duty changes introduced in 2014 and 2016. 
              

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