According to Zoopla, homes are listed for an average of 21 days before a sale is agreed – 13 days faster than the UK average of 34 days.
The firm partially attributed this to the different housing transaction system in Scotland, which requires homes to be listed with a Home Report pack containing three documents that give an insight into the condition of a property.
Homes in England and Wales are on the market for longer than average before being sold, at 36 days. The markets have sped up, as 52% of homes in both nations are sold within two months of being listed – up from 49% last year.
Activity in the North West and North East of England is even faster, with homes taking 32 days on average to sell. Zoopla said these regions with more affordable homes tended to agree sales more quickly and accounted for six of the top 10 fastest moving markets in England and Wales, with Manchester, Carlisle, Stockport Gateshead, Newcastle upon Tyne and Halton making the list.
However, Waltham Forest in North East London was the quickest housing market, with properties listed for an average of 19 days before securing a buyer.
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Zoopla said the borough was popular because it was accessible with good schools, low burglary and crime rates and a large number of green areas.
Medium-sized homes sell the fastest
Property type also influenced how quickly a home sold, with Zoopla finding that two- and three-bed homes were the fastest selling types of home.
On average, it takes 23 days for a two-bed home to sell, two days faster than last year, while the time for a three-bed home to find a buyer shortened from 26 days to 24 days year-on-year.
Flats and four-bed-plus homes take longer to sell due to increased supply and more choice for buyers, at 31 days and 38 days respectively.
Zoopla said there was an 18% rise in the number of flats on the market at the start of the year, compared to a 7% increase in houses. The rise in supply is also running ahead of new sales agreed, which is impacting the time to sell, Zoopla added.
Richard Donnell, executive director at Zoopla, said: “It currently takes just over a month to agree a home sale across England and Wales, but this varies widely across the country and by property type, with smaller family homes the fastest selling homes.
“Households that are thinking about listing their home and moving in 2025 need to set their asking price at the right level and take the advice of local agents. Buyers have a lot more choice of homes for sale than a year ago. Aiming too high on the asking price is likely to impact saleability and how long you may have to wait to agree a sale.”
