Buy-to-let
New research from Quick Move Now and Home.co.uk has revealed the worst and best places to sell a property in England and Wales.
Some areas are seeing an average sell time of 76 days, whereas other areas are seeing lengthy average sell times of 295 days.
The worst place to sell a property in the UK is Sunderland, where a house spends an average 295 days on the market.
The second worst place to sell a home is Rochdale (292 days), followed by South Shields (275 days).
Things are a lot better for those looking to sell in Bedford, where a property spends just an average of 76 days on the market. In next place is Bristol (79 days) and Swindon (81 days).
Quick Move Now’s managing director, Danny Luke, said: “In the last quarter of 2016, we have seen a significant shift of property slowdown from the North to the South. Increased time on market figures continue to highlight the slowdown in the Greater London and the South East.
“Historically, there has always been a clear North-South divide between the best and worst places to sell, however, this steady trend is starting to diminish with Greater London making up nine of the twenty worst places to sell in March 2017.”
Doug Shephard, director at Home.co.uk, said: “It’s really Central London that’s suffered the worst slowdown to date, but it seems to be spreading. The property market in the South East has also slowed but not yet by the same extent. What’s more is that rents are following house prices and in Greater London -they are now going down.
“Buy-to-let investment, wary of overbought London and the South East, is heading North in search of better yields. So if the trend continues we are going to be seeing fewer northern locations in the worst 20 and more in London and the South East.”
Top 20 worst places to sell a property
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Sunderland – property spends an average of 295 days on the market
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Rochdale – property spends an average of 292 days on the market
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South Shields – property spends an average of 275 days on the market
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North Shields – property spends an average of 269 days on the market
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Bangor (Wales) – property spends an average of 269 days on the market
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Darlington – property spends an average of 259 days on the market
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Oldham – property spends an average of 254 days on the market
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Knightsbridge – property spends an average of 249 days on the market
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Charing Cross – property spends an average of 248 days on the market
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Vauxhall – property spends an average of 246 days on the market
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Strand – property spends an average of 244 days on the market
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Rotherham – property spends an average of 243 days on the market
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Batley – property spends an average of 243 days on the market
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Broadgate – property spends an average of 243 days on the market
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Bootle – property spends an average of 242 days on the market
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Westminster – property spends an average of 241 days on the market
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Southwark – property spends an average of 238 days on the market
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Mayfair – property spends an average of 238 days on the market
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Belgravia – property spends an average of 237 days on the market
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Grimsby – property spends an average of 231 days on the market
Top 20 best places to sell a property
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Bedford – property spends an average of 76 days on the market
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Bristol – property spends an average of 79 days on the market
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Swindon – property spends an average of 81 days on the market
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Waterlooville – property spends an average of 83 days on the market
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Northampton – property spends an average of 84 days on the market
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Portslade by Sea – property spends an average of 85 days on the market
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Basildon – property spends an average of 85 days on the market
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Rochester – property spends an average of 87 days on the market
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Sutton – property spends an average of 90 days on the market
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Watford – property spends an average of 91 days on the market
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Reading – property spends an average of 91 days on the market
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Milton Keynes – property spends an average of 93 days on the market
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Gloucester – property spends an average of 93 days on the market
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Woking – property spends an average of 94 days on the market
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Luton – property spends an average of 95 days on the market
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Cambridge – property spends an average of 96 days on the market
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Redhill – property spends an average of 97 days on the market
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Bracknell – property spends an average of 97 days on the market
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Hove – property spends an average of 100 days on the market
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Eastbourne – property spends an average of 100 days on the market
