Sunderland is the slowest-moving property market in the UK, with almost three in 10 (28.5%) properties still up for sale after six months. According to research by Housesimple on how quickly homes are sold across the UK, 14.3% of properties for sale in Sunderland have been on the market for at least a year. Liverpool […]
Sunderland is the slowest-moving property market in the UK, with almost three in 10 (28.5%) properties still up for sale after six months.
According to research by Housesimple on how quickly homes are sold across the UK, 14.3% of properties for sale in Sunderland have been on the market for at least a year.
Liverpool (24.9%), Bradford (19.8%), Middlesbrough (19.8%) and Newcastle (18.6%) make up the five slowest property markets in the UK, according to the length of time properties have remained unsold.
The figures revealed that across the country 12.5% of property listings were at least six months old.
The five slowest moving property markets were all in the north of England and there wasn’t a single city in the south that appeared in the list of the 10 slowest UK property markets.
The fastest moving property market is Belfast, where less than 2% of homes have been up for sale six months or more.
Property prices have been falling in the capital but so has the percentage of properties still on the market after six months. In March, 13.8% of properties across London still remained unsold after six months, but that figure has dropped to 12%.
Alex Gosling, CEO HouseSimple.com, said: “It would be foolhardy to say that the market has dramatically improved and that normality has been restored.
“In any market, but especially in the current climate of uncertainty, sellers need to price sensibly if they want to attract buyers. That doesn’t mean discounting heavily, but if you price too high for the area your home won’t sell even if it’s an exceptional property.
“It’s very easy now for potential buyers to check sold prices along streets to see if a property is over-priced. Also, be prepared to negotiate if you want to get a quick sale. For the sake of a few thousand pounds, it might be worth taking a lower offer from a committed buyer, particularly if they’re not having to sell something at the same time.”
The slowest-moving property markets in the UK
| Town/City | % of properties on the market 12 months+ | % of properties on the market 6 months+ | Oldest property on the market |
| Sunderland | 14.3% | 28.5% | 22/03/2011 |
| Liverpool | 7.4% | 24.9% | 20/04/2010 |
| Bradford | 8.9% | 19.8% | 01/07/2010 |
| Middlesbrough | 8.0% | 19.8% | 28/01/2010 |
| Newcastle-upon-Tyne | 8.1% | 18.6% | 05/11/2010 |
| Wolverhampton | 8.2% | 17.4% | 20/08/2012 |
| Preston | 8.0% | 17.3% | 24/06/2011 |
| Bolton | 5.9% | 17.2% | 19/06/2013 |
| Aberdeen | 6.7% | 17.1% | 23/12/2015 |
| Walsall | 7.2% | 16.5% | 14/05/2013 |
The fastest moving property markets in the UK
| Town/City | % of properties on the market 12 months+ | % of properties on the market 6 months+ |
| Belfast | 0.9% | 1.9% |
| Northampton | 0.5% | 3.0% |
| Reading | 0.3% | 3.6% |
| York | 0.4% | 4.7% |
| Bristol | 0.9% | 4.7% |
