From Moneywise: November 19, 2013
PROPERTIES in Southend are selling two weeks quicker than properties in London as buyers flock to the seaside town.
In September it took 18 days on average to sell a property in Southend - two weeks less than it took to sell in London (32 days).
The average UK home is taking 11 days less to sell than this time last year, indicating consumer confidence has returned to the property market.
It currently takes 58 days to sell a property in the UK, down from 69 days in September 2012, according to research from the Post Office.
John Willcock, head of Post Office Mortgages, said: "2013 has been a real turning point in the UK housing market with annual house price growth currently 3.4%, the highest level it has been since November 2010.
"But house price data alone often hides a broader picture of recovery. This encouraging fall in the time it now takes to sell a property, especially in areas where house prices have long remained sluggish, shows that real confidence is returning to housing markets in many cities across the UK."
Average time to sell and house price
Southend on Sea, 18 days, £152,881
Liverpool, 18 days £ 92,917
Portsmouth, 28 days, £141,329
London, 32 days, £393,462
Plymouth, 34 days, £125,666
Sheffield, 34 days, £115,257
Bristol, 41 days, £173,913
Derby, 43 days, £104,109
Brighton and Hove, 53 days, £234,697
Newcastle, 57 days, £118,071
Birmingham, 66 days, £114,457
Greater Manchester, 68 days, £102,441
Cardiff, 70 days, £142,734
Nottingham, 71 days, £85,232
Norfolk, 78 days, £146,172
Leeds, 79 days, £120,825
Swansea, 89 days, £107,761
Stoke-on-Trent, 97 days, £69,367
Leicester, 109 days, £111,422
Hull, 112 days, £66,831
Source: Hometrack & Cebr
PROPERTIES in Southend are selling two weeks quicker than properties in London as buyers flock to the seaside town.
In September it took 18 days on average to sell a property in Southend - two weeks less than it took to sell in London (32 days).
The average UK home is taking 11 days less to sell than this time last year, indicating consumer confidence has returned to the property market.
It currently takes 58 days to sell a property in the UK, down from 69 days in September 2012, according to research from the Post Office.
John Willcock, head of Post Office Mortgages, said: "2013 has been a real turning point in the UK housing market with annual house price growth currently 3.4%, the highest level it has been since November 2010.
"But house price data alone often hides a broader picture of recovery. This encouraging fall in the time it now takes to sell a property, especially in areas where house prices have long remained sluggish, shows that real confidence is returning to housing markets in many cities across the UK."
Average time to sell and house price
Southend on Sea, 18 days, £152,881
Liverpool, 18 days £ 92,917
Portsmouth, 28 days, £141,329
London, 32 days, £393,462
Plymouth, 34 days, £125,666
Sheffield, 34 days, £115,257
Bristol, 41 days, £173,913
Derby, 43 days, £104,109
Brighton and Hove, 53 days, £234,697
Newcastle, 57 days, £118,071
Birmingham, 66 days, £114,457
Greater Manchester, 68 days, £102,441
Cardiff, 70 days, £142,734
Nottingham, 71 days, £85,232
Norfolk, 78 days, £146,172
Leeds, 79 days, £120,825
Swansea, 89 days, £107,761
Stoke-on-Trent, 97 days, £69,367
Leicester, 109 days, £111,422
Hull, 112 days, £66,831
Source: Hometrack & Cebr
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