Carluke in Lanarkshire, Scotland has been named Britain’s quickest property market, with the average home finding a buyer in just 24 days.
Of the top 10 quickest property markets in the UK, nine are in Scotland according to the research by Rightmove.
Falkirk in the Central Lowlands follows closely in second place, with homes finding buyers in just 26 days on average, while nearby Larbert takes third place with an average of 27 days to find a buyer.
Speedy Scots: Nine of the ten quickest-selling markets for homes are in Scotland
Graham Crocket, area director for estate agent Slater Hogg & Howison in Scotland said: ‘The market has shown significant promise, with strong sales levels and a significant uptick in listings across all house types.
‘Inflation concerns have somewhat reduced now, leading to a renewed confidence from buyers, and in turn, prices akin to that of 2022 and 2023.’
At the other end of the spectrum, Swanage in the south west of England has been revealed as Britain’s slowest property market, with sellers having to wait 136 days on average to find a buyer.
Some of the other slowest markets were coastal hotspots, such as St Ives in Cornwall and Brixham in Devon.
In St Ives, properties are typically on the market for 129 days before they find a buyer while in Brixham it takes 119 days.
It’s in the slowest UK markets that sellers may be finding the situation very different from last year.
For example, it’s taking 83 more days on average to sell a home in Swanage than it was this time last year.
Meanwhile in Werrington in the East of England, it’s taking 78 more days to sell than it was 12 months ago, a total of 126 days.
Going slow: Many of the slower-selling locations were in coastal areas
What is the average time to sell?
Looking at the broader picture, it is currently taking 71 days on average for UK homes to find a buyer, compared with 57 days last year, the longest at this time of year since 2019.
Scotland remains the quickest market across the UK, with sellers finding a buyer in 43 days on average.
Wales takes over from London as this year’s slowest market to find a buyer, with it taking on average 82 days to find a buyer.
Tim Bannister, a property expert at Rightmove said: ‘As this spring brings more optimism for movers, it’s important that sellers consider that it’s taking longer to find the right buyer than at this time last year, despite the market being busier.
‘The quickest areas to find a buyer continue to mostly be in Scotland, and it’s only taking two days longer than last year to find a buyer on average across Scotland, compared to two weeks longer on average across Great Britain, highlighting the multi-speed market.
‘Sellers keen to find a buyer as soon as possible this Spring should work closely with their local estate agent, to price accurately for their local area.’
Agents report that it is still a very price-sensitive market, and buyers are taking their time to find the right home amongst more property choice.
Rob Southwell, area partner at Burchell Edwards estate agents in the Midlands says: ‘This year has seen consumer confidence return after a turbulent 2023.
‘Prices seem to be remaining steady on the headline figures, however turbulence surrounding mortgage rates has also seen some vendors need to reduce their prices to get a sale.
‘We are seeing more buyers trying to negotiate harder than previously with more tentative offers, and ultimately showing this is a buyers’ market.’
Russell Hill, board of management partner, William H Brown in Norwich added: ‘The market in Norwich is busy with levels of applicants registered in January ahead of this time last year.
‘However, year on year, the prices in Norwich and the East of England have seen a marginal drop.
‘We have found that there is a real appetite for sellers to find their next home, with more properties coming on to the market compared to 2023.’
