If you intend to sell your property in the UK, then you need to wait for at least 91 days before it gets sold! According to a latest survey conducted by Post Office Money Mortgages, an average UK property from 20 select cities takes 91 days to sell.
The City Rate of Sale survey also reveals that properties in Bristol and Edinburgh are sold the fastest with homes being on the market for 51 and 53 days respectively. These two cities are among the best performing housing market since Brexit in the UK. London, where the real estate prices are the highest, it takes close to 89 days on an average to sell a property.
If you plan to dispose your property in Swansea or Liverpool, you have to wait much longer because it takes more than 100 days to sell them, as per the survey. The accompanying image gives a break-up of the number of days required to sell a property in select top 10 housing markets of the UK.
The survey also found out that the average price of a house in the UK increased by 8.7 per cent over the last year, but Post Office Money expects a decrease in both demand and supply.
House price hotspots Brighton and London, have seen the sharpest increase in the typical time that properties spend on the market - taking more than 20 per cent longer to sell