The fastest-moving property markets in the UK are all found in Scotland, new data has revealed.
A top ten list of the places where homes change hands the fastest has revealed that north of the border boasts all the property hotspots.
And three areas around Glasgow are where the quickest deals take place, as homebuyers snap up houses within commuting distance of Scotland’s largest city.
Rightmove’s Speed of Market Tracker found that Carluke in Lanarkshire is Britain’s quickest-selling market, with the average home finding a buyer in just 15 days
Leafy Giffnock in East Renfrewshire is second (16 days), with Uddingston third (17 days). Both are towns close to central Glasgow
The just-over-two-weeks time it takes to currently sell a property in these areas compares to an average of 33 days to find a buyer across Scotland, and 60 days across the whole of Great Britain.
Most of Britain’s slowest markets are near the coast, with Brixham (118 days), Skegness (115 days) and Sandown (109 days) taking the longest to find a buyer
London’s quickest markets are further out from the centre, with Walthamstow first (32 days), Stoke Newington second (40 days), and Dagenham third (42 days)
Meanwhile, central London locations such as Knightsbridge (135 days) and Chelsea (108 days) are taking the longest to find a buyer.
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All the current hotspots are selling faster than they did a year ago. The East Midlands takes the longest on average at 67 days.
Central London locations such as Knightsbridge, Chelsea and Victoria are the slowest London markets to find a buyer this year, with Knightsbridge slowing by 24 days compared to last year. Price is likely playing its part, as these areas are all premium locations in London with fewer mass market buyers.
Terraced houses are currently finding buyers fastest at 51 days, while detached houses are taking the longest to sell at 73 days.
Douglas Nicol, director at Nicol Estate Agents in Giffnock, says: “The local market in Giffnock remains buoyant, with demand often outstripping supply.
“So when properties come onto the market, we are finding that they are snapped up very quickly.
“Giffnock is one of the most popular suburbs in Glasgow, with excellent local amenities, transport links and some of the top-performing schools in Scotland.”
Tim Bannister, property expert at Rightmove, said: “Carluke has taken the top spot again this year for the fastest market across Great Britain, underlining the continued speed of the market in this part of Scotland.
“The Glasgow commuter towns of Giffnock and Uddingston are high on the list right now, suggesting buyers are looking for easy access to the city centre, whilst enjoying the increased space that being further out can bring.
"In London, commuter areas such as Walthamstow and Dagenham are leading the way in finding buyers the quickest, likely driven by well-connected transport links and more affordable prices compared to central zones.”
He added: “By contrast, more exclusive central locations like Knightsbridge and Chelsea are taking longer to find buyers, as these high-end markets typically move at a different pace.”
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