The Rapid Pace of Property Sales: Liverpool Properties Sell in Just 17 Days on Average!

Properties in Liverpool and Manchester are flying off the market, taking an average of just 17 days to secure a buyer, according to recent data from Zoopla. The North West is experiencing swift sales, outpacing southern England, Wales, and the Midlands, where properties linger for nearly two weeks longer than in 2022.

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Insights into Property Investment: Property Sales and Buy-to-Let Opportunities Across England

Across England, properties are spending an average of 34 days on the market before being sold. Salford, Basingstoke and Deane, and Sheffield are also seeing relatively quick sales, with an average timeframe of up to 24 days. In London, Waltham Forest stands out as the only borough where properties are selling faster than the national average, at around 24 days.

Two-bedroom terraced properties are the frontrunners in four out of five regions, boasting the fastest sales. In contrast, four-bedroom properties are taking their time finding buyers, especially in London, where spacious detached properties are lingering for an average of 59 days.

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North West Property Trends: Swift Sales and Cost Advantages

In the North West, the one-bedroom flat is the fastest-selling property type, taking an average of 21 days to sell, with prices around the £100,000 mark. Conversely, four-bedroom properties in the same region are taking approximately 53 days to sell, with higher price tags hovering around £477,000.

Moreover, the North West and North East present cost advantages, with properties averaging £72,000 to £125,000 less expensive than the national average, according to Zoopla.

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Property Market Shift: Impact of Rising Rates on Investment Timelines

The property market slowdown, with homes taking longer to sell, is attributed to higher interest rates on mortgages and the overall rising cost of living. Buyers are taking more time to ponder their decisions in the face of these challenges.

Izabella Lubowiecka, a senior property researcher at Zoopla, explains, "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."

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‍Nationwide Report: 0.9% Rise in Property Prices, Critical Insights for Property Investment and Buy-to-Let Strategies

Data published by Nationwide on Wednesday revealed a surprising 0.9% rise in property prices last month. However, property prices remain 3.3% lower compared to October last year, with a 5.23% gap, equivalent to £14,328, from their peak in August 2022, before mortgage rates started their rapid ascent.

The average property price increased from £257,808 in September to £259,423 in October, according to Nationwide's findings. These insights offer a comprehensive view of the current property landscape, providing valuable information for potential sellers and buyers alike.

To find out more about our latest buy-to-let property investments in the North of England, click below:

• Manchester Buy-To-Let Property Investments
• Liverpool Buy-To-Let Property Investments