Hottest property markets revealed: Homes in Liverpool take just 17 DAYS to sell – half the typical average

Homes in Liverpool and Manchester are the fastest selling in England, new data reveals. 

While properties in the North West are seeing rapid average sales times, those in southern England, Wales and the Midlands are taking almost two weeks longer to sell than in 2022.

Across England, homes are on the market for an average of 34 days before securing a sale, figures from Zoopla claim. 

Homes in Salford, Basingstoke and Deane and Sheffield are also selling reasonably quickly, with an average timeframe of up to 24 days. 

Waltham Forest is the only London borough to see homes selling faster than the national average for England, with sales agreed in around 24 days. 

Two-bedroom terraced houses are the fastest selling property type in four in five regions, while four-bedroom homes are taking the longest to sell. 

In London, pricey detached homes with four or more bedrooms are taking around 59 days to sell, the findings suggest.  

In hotspots like the North West, the fastest selling type of property is the one-bedroom flat, taking 21 days on average to sell, and with prices around the £100,000 mark.

Meanwhile, four-bedroom homes in the North West are typically taking around 53 days to sell, with higher price tags at around £477,000. 

In the North West and North East, the average home is between £72,000 to £125,000 less expensive than the national average, according to Zoopla.

Quick sale: New data suggests it only takes an average of 17 days to sell a home in Liverpool

Higher interest rates on mortgages and the rising cost of living have been causing some buyers to ponder for longer when it comes to property purchases.

Izabella Lubowiecka, a senior property researcher at Zoopla, said: ‘Over the last 12 months, the time to agree a sale has increased by almost two weeks. 

‘This is due to a few factors: there are fewer buyers in the market alongside cost of living concerns and higher mortgage rates which has meant many have had to pause a search for their next home. 

‘However, we are now simply seeing a return to more normal market conditions experienced in the years leading up to the pandemic. 

‘Anyone thinking about selling should bear this in mind and be prepared that it may take longer to sell their property than in recent years.’

Data published by Nationwide on Wednesday revealed house prices defied expectations by rising 0.9 per cent last month.

But the index showed that house prices remain 3.3 per cent down compared to October last year.

House prices also remain 5.23 per cent, or £14,328 below their peak in August 2022, before mortgage rates began to rapidly rise.

The average home increased in price from £257,808 in September to £259,423 in October, Nationwide said.