Carluke in Lanarkshire, Scotland, has been named Britain’s fastest property market, with the average home finding a buyer in just 24 days.
Of the top 10 fastest property markets in Britain, nine are in Scotland, according to Rightmove research.
Falkirk in the Central Lowlands follows closely in second place, with houses finding buyers in just 26 days on average, while nearby Larbert comes in third with an average of 27 days to find a buyer.
Speedy Scots: Nine of the ten fastest selling property markets are in Scotland
Graham Crocket, area director of estate agents Slater Hogg & Howison in Scotland, said: ‘The market has shown promising results, with strong sales levels and a significant increase in supply across all property types.
“Concerns about inflation have now subsided somewhat, leading to renewed buyer confidence, and in turn prices comparable to 2022 and 2023.”
At the other end of the spectrum, Swanage in south-west England is proving to be Britain’s slowest property market, with sellers having to wait an average of 136 days to find a buyer.
Some of the other slowest markets were coastal hotspots such as St Ives in Cornwall and Brixham in Devon.
In St Ives, properties are typically on the market for 129 days before finding a buyer, while in Brixham it takes 119 days.
In the slowest UK markets, sellers may experience the situation very differently to last year.
For example, it takes an average of 83 days longer to sell a house in Swanage than this time last year.
Meanwhile, in Werington, in the east of England, it takes 78 days longer to sell than it did 12 months ago, a total of 126 days.
Going slow: Many of the slower-selling locations were in coastal areas
What is the average selling time?
Looking at the wider picture, it currently takes an average of 71 days for UK homes to find a buyer, up from 57 days last year, the longest at this time of year since 2019.
Scotland remains the fastest market in the UK, with sellers finding a buyer within 43 days on average.
Wales takes over from London as this year’s slowest market to find a buyer; it takes an average of 82 days to find a buyer.
Tim Bannister, property expert at Rightmove, said: ‘As this spring brings more optimism for home movers, it’s important that sellers remember that it’s taking longer to find the right buyer than this time last year, despite the market being busier.
‘The quickest areas to find a buyer are still mainly in Scotland, and it takes an average of just two days longer to find a buyer across Scotland than last year, compared to an average of two weeks longer in the UK, which emphasizes the multi-speed speed. market.
“Sellers looking to find a buyer as quickly as possible this spring should work closely with their local real estate agent to determine an accurate price for their local area.”
Estate agents report that it is still a very price sensitive market and buyers are taking their time to find the right property, alongside a greater choice of properties.
Rob Southwell, regional partner at Burchell Edwards estate agents in the Midlands, said: “Consumer confidence has returned this year after a turbulent 2023.
‘According to the figures, prices appear to be holding steady, but the turbulence around mortgage rates has also forced some sellers to lower their prices to secure a sale.
“We’re seeing more buyers trying to negotiate harder than before with more cautious offers, ultimately showing that this is a buyer’s market.”
Russell Hill, managing partner of William H Brown in Norwich, added: “The Norwich market is busy with the number of registrations recorded in January earlier than this time last year.
‘Year on year, however, prices in Norwich and the East of England have fallen marginally.
‘We’ve found there’s a real appetite among sellers to find their next home, with more properties coming onto the market compared to 2023.’
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