Homes in Scotland sold twice as fast as properties in London on average last year, according to a website.
In 2023, the average sale took 34 days – from the property first being launched to the market to a sale being agreed, subject to contract – Zoopla said.
The average time to sell ranged from 20 days in Scotland to 40 days in London.
READ MORE: House prices rise at fastest pace recorded in the past year
This difference primarily reflects housing affordability and the impact of higher mortgage rates on buying power in markets with high house prices, the website said.
But it added that recent falls in mortgage rates have particularly boosted activity in southern England, particularly London.
Homes took around two weeks longer to sell last year than in 2022, when the average time period was just 20 days.
Once a sale has been agreed, it can take another three to six months before someone gets the keys to their new home.
READ MORE: East Renfrewshire tops table as Scottish house prices surge
Zoopla said this year has got off to a strong start so far, with buyer demand running around 11% higher than a year earlier.
The figure covers demand in the four weeks to February 7 2024 compared with the same period in 2023.
Demand was defined as would-be buyers contacting agents to inquire about and arrange viewings for properties listed on Zoopla, by filling in forms on its website.
The website has also seen an increase in the number of new homes being listed for sale.
The flow of new homes for sale is 10% higher than a year ago and the highest since 2020, Zoopla said.
Here are the average numbers of days it took to sell a home last year, according to Zoopla:
Scotland, 20
North East, 30
North West, 31
West Midlands, 32
Yorkshire and the Humber, 32
South West, 34
Wales, 35
Eastern England, 37
East Midlands, 38
South East, 38
London, 40
Show less
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel