- Houses in Liverpool and Manchester are selling faster, Zoopla data shows
- There is demand for cheaper homes, while four-bedroom homes take longer to sell
Houses in Liverpool and Manchester are the fastest selling in England, new data reveals.
While properties in the North West are experiencing fast average sales times, those in the south of England, Wales and the Midlands are taking almost two weeks longer to sell than in 2022.
Across England, houses are on the market for an average of 34 days before securing a sale, Zoopla figures claim.
Quick sale: Houses in Liverpool and Manchester are selling quickly, says Zoopla
Homes in Salford, Basingstoke, Deane and Sheffield are also selling reasonably quickly, with an average turnaround time of up to 24 days.
Waltham Forest is the only London borough where houses sell faster than the national average for England, with sales agreed in around 24 days.
Two-bedroom semi-detached houses are the fastest-selling property type in four out of five regions, while four-bedroom houses take the longest to sell.
In London, expensive detached houses with four or more bedrooms take around 59 days to sell, the findings suggest.
In hotspots like the North West, the fastest-selling property type is the one-bedroom apartment, taking an average of 21 days to sell and with prices around £100,000.
Meanwhile, four-bedroom homes in the North West typically take around 53 days to sell, with highest prices around £477,000.
In the North West and North East, the average home costs between £72,000 and £125,000 less than the national average, according to Zoopla.
Quick sale: New data suggests it only takes an average of 17 days to sell a house in Liverpool
Higher interest rates on mortgages and rising costs of living have made some buyers think longer about purchasing property.
Izabella Lubowiecka, senior property researcher at Zoopla, said: “Over the last 12 months, the time to agree a sale has increased by almost two weeks.
‘This is due to a few factors: There are fewer buyers in the market, plus concerns about the cost of living and higher mortgage rates, which has meant many have had to pause the search for their next home.
‘However, we are now simply seeing a return to the more normal market conditions experienced in the years leading up to the pandemic.
“Anyone thinking about selling should keep this in mind and be prepared because selling their property may take longer than in recent years.”
Data released by Nationwide on Wednesday revealed that house prices defied expectations by rising 0.9 per cent last month.
But the index showed that house prices are still 3.3 percent lower compared to October last year.
House prices also remain 5.23 per cent, or £14,328, below their peak in August 2022, before mortgage rates began to rise rapidly.
The average house price rose from £257,808 in September to £259,423 in October, Nationwide said.