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Reading: Last year, London real estate “took twice as long to sell” as Scottish real estate.
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Baner Club > Blog > Business > Last year, London real estate “took twice as long to sell” as Scottish real estate.
Business

Last year, London real estate “took twice as long to sell” as Scottish real estate.

According to recent statistics from Zoopla, homes in Scotland sold twice as quickly as those in London did the previous year.

Last updated: 2024/02/16 at 7:31 AM
Published February 16, 2024
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According to the property listings website, properties for sale in the capital were listed on the market for an average of 40 days in 2023, as opposed to 20 days north of the border.

The average duration for properties in Wales was 35 days, whilst the average duration for properties in the West Midlands and Yorkshire and the Humber was 32 days.

According to Zoopla, the average property in all of Britain was listed for 34 days, which is the period of time between when it was first made available and when a contract was agreed upon, subject to change.

It usually takes several more months after a price has been agreed upon for all the paperwork to be finished and the buyer to receive the keys to their new house.

The data, which nevertheless provides some insight into industry activity in 2023, indicates that it took about two weeks longer for properties to sell on the market.

The data indicates that in 2022, the typical home was up for sale for 20 days before a deal was reached.

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admin February 16, 2024 February 16, 2024
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