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HouseWorth
© GetAgent Limited 2024
  1. Blog
  2. Average time it takes to sell a home falls by 44 days
Research & Insights
02 May 2023

Average time it takes to sell a home falls by 44 days

Fatima Bukhari
Writer & Researcher

Table of contents

  1. 1. Quickest places to sell a home
  2. 2. What postcodes made it in the top 5?
  3. 3. UK postcodes where homes are selling faster than ever
  4. 4. ‘Home sellers and buyers continue to transact at a greater speed’ - GetAgent CEO Colby Short
  5. 5. Research and methodology

Our recent data shows that, despite a slowdown in house price growth, the time it takes to sell a home in England and Wales has decreased by an average of 44 days.

We monitored the time frame for selling a home across every postcode in England and Wales, starting from the initial listing on the market, until the sale was fully registered.

We looked at the average time it’s taken to sell a house based on sales to have completed over the last 12 months versus the date they were originally listed compared to the previous 12 months.

We found that over the last 12 months across England and Wales, it’s taken an average of 250 days to sell a home. That’s 44 days quicker than the average of 294 days seen across the previous 12 months.

Quickest places to sell a home

In terms of the quickest areas of the market, the SW1Y postcode of Westminster is currently home to the shortest time frame to sell a home, averaging just 79 days over the last year.

What postcodes made it in the top 5?

The TD15 postcode in Northumberland also ranks high, with the average home typically selling in just 92 days. Other postcodes that rank high in terms of speedy home sales include SY15 in Powys (117), LA17 in South Lakeland (121), and SA34 in Carmarthenshire (125), which round out the top five.

UK postcodes where homes are selling faster than ever

Over the past 12 months, homes in the W1D postcode of the London Borough of Westminster have sold significantly faster than in the previous year, with the average time on the market falling to just 232 days. This marks a massive reduction of 981 days compared to the 1,213 days it took for homes to sell during the previous 12-month period.

Several other UK postcodes have also experienced significant reductions in the average time it takes to sell a home over the past year. Among them are Westminster's W1W (-652), South Lakeland's LA17 (-501), Anglesey's LL63 (-473), and Powys SY15 (-417).

‘Home sellers and buyers continue to transact at a greater speed’ - GetAgent CEO Colby Short

“Despite the property market instability spurred by last September’s mini budget, home sellers and buyers are continuing to transact and at a greater speed over the last 12 months when compared to the 12 months prior.

In some areas there has been a dramatic reduction in the time it takes to sell a home, although this certainly hasn’t been the case across the board.

For those who are in need of a quick sale the best plan of attack is to price realistically based on the current market conditions of your local area, ensure you have your paperwork in place so that you are ready to act when needed, and consider opting for a first-time buyer or buyer without an ongoing chain, even if it does mean accepting a marginally lower price for your home.”

Research and methodology

LocationAve time to sell (days) Mar 21- Feb 22Ave time sell (days) Mar- Feb 23Annual Change
England and Wales294            250-44

Table shows the postcodes of England and Wales with the lowest time to sell over the last 12 months.

OutcodeAreaAverage time sell (days) - Mar 22 to Feb 23)
SW1YWestminster79
TD15Northumberland92
SY15Powys117
LA17South Lakeland121
SA34Carmarthenshire125
SA47Ceredigion128
NR22Norfolk132
B48Bromsgrove Worcestershire133
SA63Pembrokeshire133
IP18East Suffolk134

Table highlights postcodes with biggest time-to-sell reductions in last 12 months vs. previous 12 months.

OutcodeAreaAverage time sell (days) - Mar 21 to Feb 22)Average time sell (days) - Mar 22 to Feb 23)Annual Change (Days)
W1DWestminster1,213232-981
W1WWestminster957306-652
LA17South Lakeland622121-501
LL63Anglesey638165-473
SY15Powys534117-417
SA47Ceredigion539128-410
LL51Gwynedd641241-400
WC2NWestminster550159-391
SN26Swindon517165-352
LL43Gwynedd559213-346

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