Property purchasers are frantically rushing to benefit from the stamp duty holiday, with agents around the UK working at pace to support as many sales as possible before the 31 March deadline. But where are the fastest moving property markets?
Based on data from its own website, Zoopla says that Falkirk in Scotland is the fastest moving property market in the UK at the moment, with properties taking an average of 20.3 days from being listed to being sold subject to contract.
Meanwhile, Bridgend in Wales comes in joint second place – taking 23.6 days to go under offer.
But it is the Midlands that dominates the list, and is home to eight of the top 20 fastest markets including Nottingham, Stoke-on Trent and Redditch, with properties on the market for an average of 27 days before being sold subject to contract.
The larger urban area of Stoke-on-Trent ranked tenth in the list. Properties in this local authority take an average of 28 days from being listed to being sold subject to contract.
In Nottinghamshire, the village of Gedling ranks in 16th place, with properties here being on the market for 31 days, while it is the same story in the larger market town of Mansfield.
Properties in the south are selling at a slower pace. Waltham Forest is the only area in Greater London to feature on the list, with only two other locations in the south featuring in the top 20
Overall, the fastest moving property type is a three-bedroom, semi-detached house, which takes the top spot in 12 out of the top 20 local authorities.
The £100,000-£150,000 price band also leads the way, being the fastest moving in 11 local authorities, while £150,000-£200,000 comes in second place and is the speediest price band in a quarter of the top 20.
Tom Parker, consumer spokesperson at Zoopla, said: “With a potential saving of up to £15,000, the rush from buyers to benefit from the stamp duty holiday is very much on. Of course, there is still a significant amount of work to be done once a property is under offer, but properties being snapped up quickly by eager buyers is the first hurdle to leap if you want to make that saving.
“We’d urge buyers to act quickly and decisively in their hunt for a perfect property. Any delay can not only mean you miss out on your dream home but could hit you in the pocket too.”
The top 20 fastest moving markets
|
Rank |
Local Authority |
Region |
Average number of days on the market* |
Fastest-moving property type |
Fastest-moving price band |
|
1 |
Falkirk |
Scotland |
20 |
3-bed semi-detached |
£100,000-150,000 |
|
2 |
Waltham Forest |
London |
24 |
2-bed terraced |
£400,000-450,000 |
|
3 |
Bridgend |
Wales |
24 |
3-bed semi-detached |
£100,000-150,000 |
|
4 |
Liverpool |
North West |
25 |
1-bed flat |
£150,000-200,000 |
|
5 |
Salford |
North West |
26 |
2-bed terraced |
£100,000-150,000 |
|
6 |
Sheffield |
Yorkshire and the Humber |
27 |
3-bed semi-detached |
£400,000-450,000 |
|
7 |
Redditch |
West Midlands |
27 |
3-bed semi-detached |
£150,000-200,000 |
|
8 |
Bromsgrove |
West Midlands |
28 |
3-bed semi-detached |
£150,000-200,000 |
|
9 |
Walsall |
West Midlands |
28 |
3-bed semi-detached |
£100,000-150,000 |
|
10 |
Stoke-on-Trent |
West Midlands |
28 |
3-bed semi-detached |
£100,000-150,000 |
|
11 |
Leeds |
Yorkshire and the Humber |
28 |
3-bed semi-detached |
£150,000-200,000 |
|
12 |
Bristol |
South West |
29 |
2-bed terraced |
£150,000-200,000 |
|
13 |
Dartford |
South East |
30 |
3-bed terraced |
£250,000-300,000 |
|
14 |
Nottingham |
East Midlands |
30 |
3-bed semi-detached |
£100,000-150,000 |
|
15 |
Oldham |
North West |
31 |
2-bed semi-detached |
£100,000-150,000 |
|
16 |
Gedling |
East Midlands |
31 |
3-bed semi-detached |
£100,000-150,000 |
|
17 |
South Staffordshire |
West Midlands |
31 |
3-bed semi-detached |
£100,000-150,000 |
|
18 |
Mansfield |
East Midlands |
31 |
3-bed semi-detached |
£100,000-150,000 |
|
19 |
Trafford |
North West |
31 |
2-bed terraced |
£200,000-250,000 |
|
20 |
Manchester |
North West |
31 |
1-bed flat |
£100,000-150,000 |
This analysis looks at the average number of days between the property being listed on Zoopla to offer (marked as Sold STC) – GB Residential Resale market transactions only. The analysis excludes properties which didn’t receive an offer within six months of listing.
Days on the market rounded to the nearest whole number. Calculated as a rolling six months average from 1st May to 31st October.
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