The average time to sell a residential property in 2021 was the fastest for seven years, coming to 52 days.
According to research from HomeOwners Alliance, this compares to the seven-year average of 63 days and the trend of speedy selling is set to continue into 2022.
The report added that timescales have fluctuated over the past seven years, ranging from lows of 58 days in 2017 to highs of 73 days in 2020.
In 2021 there was also a lot of variation, with timescales ranging from 43 to 59 days throughout the year. The slowest months were in February and March, whilst the fast months were in November and December.
The alliance said that this was likely due to a shortage of homes for sale as well as heightened demand caused by the stamp duty holiday and race for space.
The report said the best ways to ensure a quick sale was to appoint a good estate agent, set up solicitor, get house ready for sale, let estate agent lead viewings and choose the right buyer.
Paula Higgins, chief executive of HomeOwners Alliance, said: “The speed of sale in 2021 and year to date 2022 has been much faster than in recent years. This is likely due to a shortage of homes for sale.
“Still, to agree a sale by Christmas, you need to list your home by November at the latest. Homeowners worried about rising mortgage rates may wish to make their planned move sooner rather than later and take advantage of the stamp duty cuts announced.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
