The annual City Rate of Sale report from Post Office Money has been revealed and show that homes in Leicester average just 76 days on the market before a buyer is found.
The report, which is compiled in conjunction with the Centre for Economics and Business Research, analyses the average time a property remains on the market in 23 major UK cities. Collectively, the results show that the average house in the UK takes 96 days to sell. Leicester homes have been found to be on the faster end of the scale, taking 20 days less than the average to sell.
Findings show that cities to the west of the UK were more likely to take longer to sell. For example, properties in Liverpool and Belfast typically take 112 and 119 days respectively to sell. Comparatively, Scotland had the fastest turnaround times with Edinburgh and Glasgow taking 50 or fewer days to sell.
The Midlands, in general, was found to have With Stoke-on-Trent, Nottingham and Birmingham all also performing well.
Impressively, Leicester homes take an average of 76 days to sell, the eighth fastest in the UK and fifth fastest in England. The median time spent on the market in Leicester also decreased by 15 per cent from last year and the average house price costs £161,616, a stark rise on last year’s £147,914.
There is a simple reason for the figures, demand in houses in Leicester is growing. However, the increase in prices doesn’t seem to be putting buyers off. Prices are rising and the time houses are on the market for is decreasing.
The city’s affordable housing, transport links, diversity, culture and reasonable living costs, make Leicester a suitable location for professionals, students and families alike.
If you are looking to sell your property in the Leicester, Market Harborough and Loughborough area – with over 25 years of experience, Andrew Granger can help.
Whether you want an accurate property valuation or information about how you can increase the value of your home, call the nearest office to you today:
Leicester: 0116 242 9922
Market Harborough: 01858 431 315
Loughborough: 01509 235 534