As soon as your property goes on the market, you will be itching to make a sale so you can purchase a new home of your own. However, many sellers, especially first-time sellers, want to know the average time it takes to sell a house.
Although how long it takes to sell a house can vary substantially throughout the UK, and can depend entirely on the type of property you have, the average time it takes to sell a house in the UK is generally around 2 to 3 months, according to Gov.uk.
What is the average time it takes to sell a house in the UK?
Research by property website Zoopla reveals that there are areas of the UK where properties sell the fastest. According to the research, if you would like to sell your house quickly, you should consider living in the town of Northampton where it is estimated that you can secure a house offer in as little as 27 days. In the historic Eastern town of Ipswich, you can expect an average of 36 days before your home is sold.
This is considerably shorter than the average time of 2 to 3 months that it takes to sell a property in the UK. As predicted, this highlights just how important location is when it comes to selling your property – and selling it fast!
Regionally speaking, you are better off selling a home in the South East of England, where the average time it takes to sell a house is approximately 42 days, or just over a month. This is less than the average time of 2 to 3 months. However, on the other end of the scale is Wales, where the average homeowner will have to wait around 66 days on average, from house sale time to completion.
Economic uncertainty can also affect the average time it takes to sell a house, which is one of the main reasons the property market is so turbulent. For instance, according to John Willcock, Head of Mortgages at Post Office Money, “some local property markets could be impacted significantly as weaker demand coincides with more properties coming onto the market.”
Not to mention, in the face of Brexit, many homeowners may be opting to delay their house sale because the time it takes to sell their home may be longer, on average, due to an uncertain housing market, but also because they may lose value on their property during this uncertain time for the property market.
Tips on how to sell your house quickly
If you are looking for the quickest way to sell your house, you can shorten this average slightly by ensuring that:
- The condition of your property is up to scratch: You can do this by making some simple home improvements, or even just giving the house a fresh lick of paint!
- Your asking price is correct for your type of property: Make sure that your home hasn’t been overvalued in comparison to others in the area that are in a similar condition.
- Your buyers are ready to move in: Waiting on a chain of buyers will inevitably add time onto how long it takes to sell your property. This is why cash buyers and first-time buyers are highly advantageous when selling your property quickly.
- You have all the necessary documentation: Lack of the necessary forms and documents could delay the house sale completion process. For example, ensure that you have declared everything when selling a house, and make sure you have an Energy Performance Certificate for the property.
It is worth bearing in mind that there are some factors that are beyond your control and can affect the average time it takes to sell a house in the UK. For the fastest way to sell your home, follow these top tips on how to sell your house quickly and feel free to contact us for any advice.
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