Looking to sell and sell fast? Learn which homes in the UK are being bought the quickest within 30 days of hitting the market.
Half of sales agreed happen within 30 days of listing
When it comes to house sales, you’d be forgiven for thinking that they all take a lengthy amount of time. But according to our research, this isn’t always the case. We found that 49% of sales agreed in England and Wales occur within 30 days of the home being listed for sale. In Scotland, the stats are even more impressive, with 75% of homes being sold within a month. This is because homes there are marketed with a valuation and survey upfront, which tend to allow for a faster time to agree a sale.
Ultimately, how fast a home will sell can only be judged on a case-by-case basis. It depends on the asking price, property type, size, condition and local demand for each type of home. Setting the right asking price from the start is perhaps the most important to securing a faster sale. In England and Wales, the current gap between the fastest and slowest-selling property types is almost 2 weeks.
What’s the fastest-selling property type?
Between April and June 2024, 2-bed terraced homes were the fastest-selling property type on Zoopla in England and Wales.
The average time to agree a sale on this property type is 27 days, which is 5 days faster than the national average of 32 days. To complete a sale, sellers typically need another 4 months, depending on the complexity of the transaction.
In the past 3 months, 6 in 10 of sales agreed for 2-bed terraced homes were within a month of listing.
Why do they sell so fast you ask? The simple answer is that 2-bed terraced homes appeal to various types of buyers. They’re a good value-for-money option for first-time buyers with limited funds, and for downsizing empty-nesters who aren’t ready to give up features like a garden.
They’re also relatively rare. Only 7% of homes that came on the market in the last 3 months were 2-bed terraces. This drives up the competition.
2-bedroom terraced homes have consistently been the fastest-selling type of home in more expensive regions (London and East of England) over the last 6 years. Now, they’re also the fastest-selling type of home in more affordable regions. This signals a shift in buyer requirements in the face of higher borrowing costs.
What are the four types of homes most likely to sell within 30 days?
2-bed terraced homes aren’t the only property type to sell quickly. The other types of homes that sell the fastest within a month are:
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2-bed semi-detached homes
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3-bed terraced homes
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3-bed semi-detached homes
Collectively, these four property types make up 46% of UK homes, but only 32% of all homes listed for sale. This mismatch signals an undersupply of more affordable family homes, which encourages stronger competition amongst buyers. People looking to sell these types of homes can expect more early offers than owners of larger houses and flats – as long as they price their homes correctly.
What’s the slowest-selling property type?
Detached homes with 4 bedrooms or more take the longest time to find a buyer, with an average of 40 days. This is 13 days slower than 2-bed terraced homes.
Earlier this year, we reported a spike in supply of 4-bed homes for sale, boosting the choice for those looking to buy large homes. This, combined with weaker demand due to higher mortgage rates, means buyers take longer to decide to buy larger homes.
What are the regional variations in time to sell a home?
Our research also shows local variations in time to agree a sale, with available stock type, demand and pricing playing a role.
The popularity of 2-bed terraced homes is most evident in the South West, Yorkshire and the Humber, West Midlands and parts of the London commuter belt.
Flats, which typically take longer to sell than houses, are the fastest-selling property type in the North West, particularly in Manchester, Liverpool and Warrington.
Moving away from the UK’s major cities, 3-bed homes are still the fastest-selling.
Detached houses with 4 bedrooms or more are currently the slowest-selling, but we also find examples of terraced and semi-detached homes with the same number of bedrooms to be the fastest-selling homes. This includes parts of Cambridgeshire, mid-Wales, Northamptonshire and the Scottish Highlands.
What’s next for time to sell?
How long it takes to sell a home varies from season to season. Typically, homes sell a week faster in the first six months of the year and we can expect fewer homes to achieve a sale within 30 days in the coming months of 2024.
Mortgage rates have fallen to an average of 4.5-5% which is enough to support more sales. A cut to the base rate this year could boost market sentiment, and support demand and the pace at which sales are agreed.
Homes that are not well-presented or priced incorrectly for the local market will continue to take longer to achieve a sale or may not sell at all. Homes that have had to undergo an asking price reduction of 5% or more are taking an average of 70 days to agree a sale, which is over 2x the average. This shows the importance of talking to local estate agents to decide on the most suitable asking price. It gives you the best chance to attract buyer demand and boost the possibility of getting a sale agreed.
Key takeaways
- 2-bed terraced homes are the fastest to achieve an offer as 6 in 10 sell within 30 days
- Larger, detached homes with 4 bedrooms or more take 40 days to sell on average
- Time to sell varies by location, with available stock type, demand and pricing playing a role
- We expect homes to sell at a slower pace over the second half of 2024 as buyer demand decreases in later months of the year