Two-bedroom terraced homes emerged as the fastest-selling property type in England and Wales between April and June 2024, according to Zoopla data, with an average time to agree a sale of just 27 days. 

This is significantly quicker than the national average of 32 days.

In the last three months, 60% of sales for two-bedroom terraced homes were agreed within a month of listing, according to the platform. However, only 7% of homes listed in the last three months were two-bedroom terraces.

Historically, two-bedroom terraced homes have been the fastest-selling property type in more expensive regions such as London and the East of England. Now, they have also become the fastest-selling type in more affordable regions, indicating a shift in buyer requirements amid rising borrowing costs, said Zoopla

Other fast-selling property types include:

– Two-bedroom semi-detached homes

– Three-bedroom terraced homes

– Three-bedroom semi-detached homes

Together, the four property types account for 46% of UK homes but only 32% of all homes listed for sale, highlighting an undersupply of more affordable family homes and fostering strong competition among buyers. Sellers of these homes can expect early offers if their properties are priced correctly, said Zoopla.

In contrast, detached homes with four or more bedrooms take the longest to sell, with an average of 40 days to find a buyer, 13 days slower than two-bedroom terraced homes.

Earlier this year, a spike in the supply of four-bedroom homes for sale increased the choice for those looking to buy larger properties. This, combined with weaker demand due to higher mortgage rates, means buyers are taking longer to decide on purchasing larger homes.