The average selling time of a UK Worcestershire property has increased in the last year, according to new research. This time last year a property would take on average 72 days to sell, in comparison to almost 80 days in the current housing climate.
Worcestershire property – Not all doom and gloom
However, this isn’t the case for all UK locations, towns in the North West of England have gone on to see improvements from this time last year, with places such as Burnley, Morecambe, Widnes, Lancaster and Oldham all seeing a reduced selling time of at least least two weeks. The data has come from the popular website Rightmove, which monitors sales from when a property is first listed until it is marketed as under offer and is one of the largest property listing websites in the UK. Further data also showed that outside of London, Runcorn in Cheshire has the fastest moving housing market. On average, the asking price in Runcorn is £132,653, which is much lower than other areas in the country. They have seen a reduced average selling time of a substantial three weeks from ten weeks in 2018 to just under seven weeks currently. This is four weeks quicker than the national average. A logical explanation for this is the opening of the Mersey Gateway Bridge.
Property in Worcestershire also appears to have had a good year when it comes to their current housing market with properties selling on average in less than six weeks. Overall sold prices for property in Worcestershire over the last year were 3% up on the previous year, with the average property for sale in Worcestershire £267,969. The most expensive area within Worcestershire was Broome (£752,500) and the cheapest was Cookley (£171,622). But taking the crown for fastest selling market in England, is Redditch. Redditch property for sale is being snapped up in the current market.
We, at G Herbert Banks estate agents in Worcester, stay on top of the housing market to ensure we give you the best possible advice when it comes to selling your property. We’re experts in residential sales and Worcestershire property for sale, so if you have property, which you are considering selling, or buying, please do contact the team and we would be delighted to discuss the options available.
If you have found the blog helpful, you may wish to read our previous blog on the Tenant Fee Ban.