Property Solvers’ latest data shows that properties in West London are selling the fastest.  

North London and Sutton were reported as having the slowest home sales markets over the last 12 months.

Sell house fast firm Property Solvers most recent research has indicated that residential homes are taking an average of 15 and a half weeks to sell across Greater London.

The monthly-updated data tracked 7,624 property sales between July 2018 and July 2019.

The tool calculates time period between a property’s initial listing on Rightmove to the point at which it’s officially marked as ‘sold’ at HM Land Registry

According to Property Solvers co-founder James Durr, “Although we’re not able to monitor every house sale from start to finish at this stage, our data collection has captured a decent cross-section of the Greater London market.”

Whilst the latest statistics revealed that over 20 sales in West Central and East Central London were taking as little as 5 weeks on average to sell, West London was the best performer (with a more statistically significant number of sales).

Covering more central parts of the city including Marylebone and Paddington, stretching out to Chiswick, Ealing and Hanwell, 244 homes took an average of 12 weeks to sell.

 

Fastest House Sale Markets (Greater London – July 2018 to July 2019)
Region Time to Sell No. of Properties Tracked
West London 12 Weeks 244
Kingston-upon-Thames 16 Weeks 630
South West London 16 Weeks 613
South East London 16 Weeks 610
Redhill 16 Weeks 585
Romford 16 Weeks 431
Luton 16 Weeks 364
Bromley 16 Weeks 340
Enfield 16 Weeks 296
Harrow 16 Weeks 274

 

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The majority of houses across the capital took an average of 16 weeks to sell.

The slowest sales times were seen in North London (including Kings Cross, Finchley, Southgate, Barnet and Enfield) and in the London Borough of Sutton.

 

Slowest House Sale Markets (Greater London – July 2018 to July 2019)
Region Time to Sell No. of Properties Tracked
North London 18 Weeks 379
Sutton 18 Weeks 228
Guildford 17 Weeks 695
Twickenham 17 Weeks 450
Croydon 17 Weeks 359
Watford 17 Weeks 275
East London 17 Weeks 265
Southall 17 Weeks 177
North West London 16 Weeks 206
Ilford 16 Weeks 182

 

Commenting on the latest data, Durr added: “it’s been encouraging to see a relatively speedy velocity of house sales across West London.”

“It’s arguably a testament to estate agents taking a more realistic approach to pricing alongside more efficient mortgage processing, survey and conveyancing process coming into play.”

“As this data will be updated on a monthly basis, it will be interesting to see if these trends continue – especially as tech becomes a fundamental component of any property-related business or service.”

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