The GetAgent sellers report 2023

Selling a house can be a complex and stressful process, with decisions made during the selling process either costing, or saving you thousands of pounds.

In 2023, the market is more confusing than ever, and if you’re thinking of selling your property, it can be harder than usual at the moment to know when to put your house on the market and how quickly you can expect your house to sell.

Since 2015, we’ve helped over 300,000 homeowners successfully sell their properties - and so as we enter a new year, we wanted to share a snapshot of what the sellers’ market is really like as we enter 2023.

To do this, we’ve analysed our own listings data from 2022 to provide an extensive deep dive into the world of property selling and create the very first edition of the GetAgent Sellers Report 2023.

What is the most popular month to put your house on the market?

When deciding to move homes, one of the first things to consider is when you’re going to officially list your property as ‘For Sale’. Life can be full of surprises, and so while some homeowners may need to sell their house regardless of the time of year, others will have the luxury of time on their hands, allowing them to use market trends to their advantage.

The property market generally tends to follow the same trends every year, and so we analysed internal data from the last 12 months to find out which ones were most popular for listing properties.

Our data revealed that spring and summer months proved most popular with those putting their homes on the market - with March, May, and June ranking as the three most popular months of the year. With warmer weather, and generally less plans for most people, the spring and early summer months are a great time to put a property on the market.

Summer months including July and August followed, to make up the top five most popular months, each with over 320,000 properties having been listed in the months in 2022.

*GetAgent listings data from Nov ‘21 - Oct ‘22

With our data revealing that the average time to sell a house is 95 days, the latest homeowners should put their property on the market to sell their home in time for Christmas is September (the 6th most popular month for listings).

However, with each house-selling process being completely unique - and often unpredictable - the 23rd of July is recommended in order to complete a sale by the 23rd of December.

Colby Short, our co-founder and CEO adds:

“There's no easy answer to the question 'How long does it take to sell a house?' as so many factors are involved in the process - from location and the time of year to the motivation level of the buyer, or the skill and experience of your estate agent.

But for those wanting to complete a sale by Christmas, it’s advisable to look at listing your property as soon as possible - at the very latest the end of July, to ensure that more than enough time is left to go through the lengthy process of selling your home.”

It’s therefore no surprise that November, December, and October ranked as the least popular months to list a property - with many people not wanting the stress of moving over Christmas if they can avoid it.

Where in the UK has the most expensive houses for sale?

Once you’ve decided when to put your house on the market, it’s time to decide how much you’d like to ask for your property. While the market price may depend on factors including the number of bedrooms, or how big the garden is, the asking price will really depend on how quickly you want to sell the property - or whether you’re looking to make as much money as possible.

We analysed our data from over 1.5 million properties which were listed as for sale in 2022 to find out the areas of the UK with the highest (and lowest) asking prices.

Top 20 most expensive postcodes (excluding London)

With London (unsurprisingly) dominating the list of most expensive postcodes in the UK, we’ve excluded London from our national rankings, and have revealed the most expensive London boroughs further on in our report. Topping the list with an average asking price of a whopping £3.27 million, was the GU25 postcode, located in Runnymede, Surrey.

Bordering the nation’s capital and surrounded by beautiful countryside including Surrey Hills (an Area of Outstanding Natural Beauty), it’s not surprising that two other Surrey postcodes: Surrey Heath’s GU20 and Waverley’s GU8 also ranked in the top 20 most expensive in the UK.

Ranking in second position was PA70, a postcode in the Isle of Mull - the second-largest island of the Inner Hebrides, located off the west coast of Scotland. The island is home to stunning wildlife (including whales and dolphins) and beautiful beaches, and with the area in high demand, home sellers can set asking prices high.

Postcodes in South Buckinghamshire also placed in the top 20, with Bourne End’s SL8 placing in fourth position, boasting an average asking price of £2.37 million, and Chalfont Saint Giles’ HP8 postcode ranking as 13th most expensive in the country.

Top 20 least expensive postcodes (excluding London)

Our data revealed that it was Scotland which was home to the top four most affordable postcodes in the country, with Scottish postcodes spanning Glasgow, Ayrshire and Renfrewshire all having average asking prices of less than £78,500 in 2022.

Beyond the top ten, Scottish postcodes also made up positions 11 to 19, with Liverpool being the only English postcode to rank in the bottom half of the top twenty. Scottish postcodes ranking in positions 11 to 19 had average asking prices of between £97,500 to £110,500, with Ayrshire and Glasgow in particular proving as real hotspots for those looking for affordable properties.

Postcodes in the northern regions of England also placed in the top ten, with locations in Bradford, Grimsby, and Middlesbrough ranking in 5th, 6th, 7th, and 10th positions respectively.

Top 10 most expensive London postcodes

When looking solely at London postcodes, our data reveals that the City of Westminster is undoubtedly the most expensive borough in London, with the top 10 postcodes all residing in the area. Grosvenor Square’s W1K postcode ranked as the most expensive, with average asking prices around £7.05 million in 2022, while postcodes located in Hanover Square (£6.44 million) and Belgravia (£6.05 million) followed to make up the top three.

Top 10 least expensive London postcodes

The least expensive London postcodes were, perhaps unsurprisingly, located on the outskirts of the nation’s capital in Outer London, with Bexley postcode DA18 ranking as the least expensive average asking price - just £251,079 in 2022. Postcodes in Thurrock, which is part of the London commuter belt and Greater London Urban Area, followed to make up the top four, with average asking prices of less than £298,000.

Thamesmead postcode SE28 and TW6 in Heathrow also ranked in the top ten, each with average asking prices of less than £312,000.

Where in the UK are home sellers most likely to achieve their asking price?

While you can ask for a house price which suits you and your needs, unfortunately no-one is guaranteed to get the exact amount they’re asking for. If the property market is hot and houses are in-demand for example, buyers may compete and pay more than the asking price to secure the home of their dreams - an ideal outcome for any house seller.

However, if the housing market has slowed, or the house has been marketed at too high a price, sellers may be forced to cut asking prices in order to get the property off the market.

Top 10 postcodes achieving more than asking price

The best performing postcode when it came to achieving higher than the asking price was Northumberland postcode NE49, which achieved 120% of the asking price on average.

Following closely behind in second place was Eden, Cumbria’s CA16 postcode, which achieved 119% of the original asking price, while neighbouring Ambleside ranks in 10th position with homes in the area achieving 117% of the asking price. Postcodes in Wolverhampton, Pembrokeshire and Cambridge ranked in joint third position, each achieving on average 118% of the asking price.

Top 10 postcodes achieving less than asking price

When it came to the worst performing postcodes, our data revealed it was Pembrokeshire’s SA69, located near the town of Saundersfoot, which was the joint worst performer in 2022, along with Derbyshire’s S32 and Swindon’s SN26 postcodes - with each achieving only 80% of the original asking price.

Also ranking as some of the nation’s worst performing postcodes were locations including London’s Pimlico and Belgravia, as well as Liverpool city centre and Cumbrian town Sedbergh.

Which UK locations are selling their homes the quickest?

There are several factors that can play into achieving a quick sale, with some of these factors unfortunately being out of a house-seller's hands. However, the first step in getting your house sold quickly is to attract as many potential buyers as possible.

Our CEO and co-founder Colby Short explains some of the ways you can do this: “One of the easiest ways to achieve a quick sale is to sort your home out before putting it on the market. It might sound simple, but spacious and clean properties are more appealing to buyers, so ensure you’ve cleared through everything before listing your house to give the best first impression to buyers.

Deciding on the right price for your property can be a tricky decision, but one which will have the single biggest impact on how quickly your house sells. Most property listings get the most views in the first two weeks, and with many house hunters filtering homes by cost, setting the wrong price initially could exclude you from your ideal buyers.

Finally, ensure you’re choosing the best estate agent you can - as a good estate agent can do all the work for you, from accurately valuing your home to presenting your property in its best light.”

Top 20 postcodes which are selling their homes quickest

It was the HR3 postcode, located in Hay on Wye in Hereford, which had the quickest selling properties in 2022. Properties in the area took on average just 32 days to sell - a third of the time it takes an average UK property to sell.

Several Welsh regions ranked in the top ten quickest selling areas, with Anglesey (34 days) ranking in second place, and three postcodes in the county of Ceredigion ranking in 5th, 8th, and joint 9th position, taking less than 60 days to sell on average.

In the south of England, the London postcode EC1R, based in the borough of Islington, ranked in third place with properties in the area being snapped up in just 41 days on average, and Kingsbridge postcode TQ7 in Devon had an average sale time of 44 days.

Further down the list were popular UK destinations including Bakewell in the Peak District and Liverpool city centre, both of which ranked in joint 20th position with an average sell time of 69 days.

If our report has inspired you to put your house on the market, then why not use our online house valuation tool, to reveal how much money you could get for your property in 2023.

Methodology

Data compiled for the report from the following sources:

• GetAgent internal consumer data.

All data correct as of December 2022.