The 20 locations where homes sell the fastest

Where do homes sell the fastest, and what factors impact the speed of sales? Our research reveals the top 20 locations where homes are selling the fastest in 2022.

Dartford, Redditch, Test Valley and Gloucester are the fastest moving property markets in the UK.

Homes listed for sale in these areas take just 14 days to sell.

If we look at regions, the South West and the West Midlands have the fastest moving housing markets in 2022.

But the stories behind the fast sales are different across the country.

Where you live, the type of property and the price of your home will all impact how quickly it sells.

The top 20 places where homes sell the fastest

What's happening in the hottest housing markets?

Dartford, Kent

While several other commuter markets have slowed down since last year, Dartford’s kept its place as one of the fastest selling areas.

With house prices still affordable and good commutes into London, buyers in Dartford are having to move quickly to land the home they want.

Two bedroom terraced homes are selling the fastest in Dartford. In terms of price bracket, you’ll sell the fastest if your Dartford home is priced between £250k and £300k.

This is the cheaper end of the market, with average house prices in Dartford at £344,500 in May 2022. This size and price signals that first time buyers are driving the fast-paced market in Dartford.

Redditch, Worcestershire

Homeowners in this West Midlands area have seen a dramatic improvement in how quick they’ll sell this year.

It’s dropped to 14 days, putting it at the top of the list.

In 2021, Redditch was the second fastest moving market. But it took much longer to sell your home, at an average of 27 days.

In terms of property type and pricing, owners of three bedroom terraced properties in Redditch are getting the fastest sales.

And you’ll sell your Redditch home the fastest if it’s priced between £200k and £250k.

Test Valley, Hampshire

Test Valley in Hampshire is another place where it takes only 14 days to sell your home.

But the fastest selling homes here are more expensive than other hot markets. Homes between £350k and £400k sell the quickest in this part of Hampshire.

Although this range is more expensive than other areas on the list, it aligns with the average local property price of £365,000 in May 2022.

There’s high demand for family homes and space in Test Valley. That’s shown in three bedroom semi-detached homes selling the fastest.

Gloucester

Like several areas in the South West, Gloucester is seeing very fast sales this year.

In particular, three bedroom semi detached homes are flying off the shelf. In terms of price, those between £250k and £300k are the fastest to sell.

This price range is lower than the average house price in the area, which was £222,400 in May 2022.

If you live in Bristol, Plymouth, Exeter, or Swindon, you’re seeing sales go through almost as quickly. They all make it into the top 20 fastest moving markets.

How has the UK market changed in the last year?

What’s really noticeable this year is the fast pace of urban markets in the South West. They feature much more prominently than last year.

If you live in or around Bristol, Plymouth, Exeter, Gloucester or Swindon, you’re likely to sell within 14 to 17 days.

Two and three bedroom terraced homes are selling the fastest in South West cities.

The only exception is Bristol, where you’ll sell fastest if you have a three bedroom semi-detached house.

It's a similar picture in the West Midlands, too. Redditch, Rugby, Stoke-on-Trent, Nuneaton and Bedworth, Worcester and Stafford are all in the top 20 hottest markets.

There’s still a fast pace within city markets, which is a trend we saw last year and previously. Around 12 of the 29 fastest markets featured before the pandemic.

But we’re seeing a shift away from the pandemic-led choices of buyers in 2021.  Back then, lots of us were looking for coastal areas and commuter towns. But they no longer feature as much in the fastest markets.

Which areas have seen the most improvement in the time it takes to sell?

House sales in West Oxfordshire have sped up the most in the last year.

It now takes 24 days for an offer to be accepted, compared to 37 in June 2021.

Lancaster and Ealing are in joint second place. If you live in these places, it’ll now take you 21 or 31 days respectively to sell. That’s 12 days faster than this time last year.

As interest in the London property market picks up again, London and the South East have also seen big improvements in the time it takes to sell.

Kensington and Chelsea, Richmond Upon Thames and Wandsworth are all in the top 10 most improved.

Cherwell and Windsor and Maidenhead also make the list. Homes in these areas are selling 9 to 11 days faster than last year.

Carlisle and the Vale of Glamorgan make the top 10 too, having seen a dramatic change in time to sell. They’re now at 18 and 19 days respectively, both a drop of 9 days since last year.

What are the fastest moving housing markets in London?

Bexley is the fastest-moving housing market in the capital.

It takes homes in Bexley just 16 days to sell, with two bedroom terraced properties selling like hot cakes.

The fastest selling properties in Bexley are priced between £400k and £450k.

Waltham Forest is the second hottest housing market in London, with homes selling in 17 days.

It’s four bedroom terraced homes and those priced between £550k and £600k that are being snapped up the fastest.

These areas are outperforming the rest of London. On average, it takes 35 days to sell your home in the capital. That makes it one of the slowest regions in the country.

Is now the time to sell?

If the average sell time is low in your area, it’s a sign of strong demand.

It usually means there’s more buyers looking for a new home than there are sellers. And that there aren’t enough suitable homes on the market for them all.

That can lead to buyers competing for the house they want. When this happens, it’s quicker for the seller to get an offer they like the look of.

Key takeaways

• It takes just 14 days to sell your home in the UK's fastest markets: Dartford, Redditch, Test Valley and Gloucester
• Urban housing markets in the South West and West Midlands have picked up pace, with homes selling in 14 to 17 days
• There are areas all over the country where you can expect to sell your home in less than 3 weeks

---

by Blackstones

Pandemic housing boom creates 270,000 property millionaires

Demand for property was up nearly 60% over the last two years, while supply drained to 40% below the norm. Which meant only one thing: house prices increased as the nation got moving.

Nearly 10m homes shot up by £50,000 in value over the last two years, as the pandemic created levels of demand from buyers not seen since 2006.

The average home went up £48 a day as the world entered a new phase of flexible working from home, freeing up home buyers to shop further afield in new locations.

Demand was so high, running at 58% above the five-year average, that supply levels took a hit, with the number of homes for sale falling to 40% below the five-year average.

This, in turn, pushed house prices higher at rates not seen for 16 years, as buyers competed to secure the homes of their dreams.

 

Total value of UK homes passes £10 trillion mark 

For the first time, the total value of the UK's 29.5m homes has surpassed the £10 trillion mark, as £1.3 trillion was added to the property market during the course of the pandemic.

The overall value of UK homes now stands at £10.1 trillion.

Where the biggest value rises were seen across the country

Region	Value of housing today	Value pre-pandemic	Change in value	Average property value
Wales	£335bn	£274bn	22%	£201,000
South West	£965bn	£803bn	20%	£320,000
North West	£765bn	£636bn	20%	£192,000
East Midlands	£569bn	£476bn	19%	£235,000
Yorks and Humber	£547bn	£460bn	19%	£186,000
West Midlands	£671bn	£573bn	17%	£225,000
North East	£213bn	£182bn	17%	£144,000
South East	£1,879bn	£1,633bn	15%	£394,000
Eastern	£1,109bn	£964bn	15%	£350,000
Northern Ireland	£143bn	£125bn	15%	£158,000
Scotland	£493bn	£435bn	13%	£164,000
London	£2,398bn	£2,248bn	7%	£516,000
UK as a whole	£10,088bn	£8,809bn	15%	£266,000

Homes in Wales saw the greatest increase in value since the pandemic began in February 2020, with house prices up 22% on average.

Wales was hotly followed by the North West and South West, where prices rose by 20% in both areas.

In London, which lagged behind the rest of the country both in terms of demand and price rises throughout the pandemic, the increase was just 7%.

That’s less than half the national average increase, mainly because the average property in London costs 11.5 times the average salary, putting property prices way above the rest of the country.

The ability to work from home also dented demand for homes in the capital - and particularly demand for apartments.

The high value inner areas of London were hit too as the world came to a standstill.

With no city buzz to enjoy, home hunters began searching for more space in idyllic locations by the sea or in the countryside instead.

Despite that, when looking at the whole of the UK, London and the South East still account for 23.5% of the total value of our housing.

However, that share has fallen from 26% pre-pandemic.

One in three homes shot up in value by more than £50,000

Of the UK's 29.5m homes, nearly a third, or 9.4m, have grown in value by more than £50,000 since the start of the pandemic.

Our data shows the UK's more affordable regions saw the biggest gains, as flexible working opened up the housing landscape to buyers.

Executive Director says, "An exodus of older workers from the labour market over the pandemic, together with more working from home, is driving more households to look further afield for their next home to get greater value for money."

That said, where homes are already more expensive, gains could also be seen.

London and the South East account for over 3m of these rising properties, while in the South West, nearly 2m grew by more than £50,000.

A further 9.4m homes across the country increased by £25,000-£50,000 in value.

How homes went up in value across the UK

Price change	Number of homes	% of UK homes
Unchanged or lower	1.7m	6%
Increase up to £25K	8.8m	30%
Up £25K - £50K	9.4m	32%
Up £50K - £75K	4.6m	16%
Up £75K - £100K	2m	7%
Up £100K or more	2.9m	10%

Value of Housing Report

"The gains over the last year are the largest since 2006 but they are far from uniform," says Donnell.

"Every homeowner experiences the impact of the market through the changing value of their own property.

"Rising home values unlock new opportunities for homeowners considering their next move."

But there have also been losses in value across the UK

A total of 1.6m homes (that’s 5.7% of the total housing market) have either stayed the same price or lost value since the pandemic began.

Of these, 800,000 have seen a value decline of 5% or more.

These homes can mostly be found in inner London, where the impact of the pandemic has hit travel, working patterns and demand for homes.

Westminster, Kensington & Chelsea, Islington, Hammersmith & Fulham, Tower Hamlets and Southwark all suffered losses in the capital, accounting for 28% of that 800,000 - or 224,000 homes.

In Scotland, Aberdeen and Aberdeenshire, where the economy suffers from the historic decline in oil prices, accounted for a further 6% of homes declining in value - or 48,000 homes.

"Not everyone has seen home values increase," says Donnell.

"Affordability is holding back prices in London and southern England and our analysis reveals the centre of gravity of the housing market is shifting northwards.

"The largest gains in value are being seen in more affordable areas where there is further room for price growth, even with modest increases in mortgage rates."

Key takeaways

• A third of UK homes went up by more than £50,000 during the pandemic
• In rises not seen since 2006, 270,000 homeowners have now joined the millionaires' club
• The average UK home has earned £48 a day since February 2020

---

by Blackstones