Edinburgh has the fastest growing property sales in the UK, according to new data

Edinburgh has the fastest growing property sales in the UK, according to new data

The latest figures from Zoopla reveal that when it comes to selling homes, the Scottish capital comes out on top

Property giant Zoopla has released its most recent figures regarding property sales in the UK. There is plenty to unpack within these numbers, but the first thing that catches the eye is that Edinburgh tops the list for the fastest selling properties in the whole of the UK.

The figures reveal that the average time it takes to sell a property in Britain is 47 days. However, in Edinburgh homes are in high demand and are selling at more than double the average speed, typically selling in just 22 days. This is 25 days faster than the national average and 5 days faster than the next city in the rankings.

Homes in Glasgow, Cardiff and Northampton are also selling at an above average rate, meaning buyers have to act fast. Homes in these areas are taking an average 27 days, 32 days and 33 days to sell respectively. Birmingham also makes it into the top 5, at 33 days.

Here is the full list of the ‘Top 10 Fastest Moving Towns in Britain’, according to Zoopla:

  1. Edinburgh – 22 days (Average House Price as of Oct 2018: £287,865)
  2. Glasgow – 27 days (Average House Price as of Oct 2018: £182,816)
  3. Cardiff – 32 days (Average House Price as of Oct 2018: £238,241)
  4. Northampton – 33 days (Average House Price as of Oct 2018: £258,583)
  5. Birmingham – 33 days (Average House Price as of Oct 2018: £198,890)
  6. Bristol – 34 days (Average House Price as of Oct 2018: £324,110)
  7. Nottingham – 35 days (Average House Price as of Oct 2018: £200,687)
  8. Stoke-on-Trent – 36 days (Average House Price as of Oct 2018: £148,326)
  9. Manchester – 36 days (Average House Price as of Oct 2018: £187,838)
  10. Leicester – 38 days (Average House Price as of Oct 2018: £226,951)

Property value is also consistently increasing in the Scottish capital, so buyers are encouraged to act fast when they see a home appear on the market. The city continues to be an extremely desirable location, and many homes have both aesthetic and historical value to them.

Meanwhile, Scotland also dominated on a regional level. Zoopla’s data revealed the fastest property sales in the UK by region, and Scotland came out at number one, typically taking 38 days for homes to go under offer.

This ties Scotland with the West Midlands’ property sales, while the East Midlands, Yorkshire and the Humber and South West England round off the top 5, with 40, 46 and 47 days respectively.

In London, however, homes take an average of 54 days to sell – 7 days slower than the national average. Perhaps unsurprisingly, it also has the highest average house prices of any region at £651,033.

Speaking on behalf of Zoopla, Lawrence Hall commented on these findings and “Scotland’s dominance” of the results, saying: “Prospective buyers and sellers should find this information helpful as it will give them a good idea of where the homes are in demand.”

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