Time of sale of real estate, on what it influences?

The process of selling real estate by itself can sometimes become quite tedious. And in conditions when exposed to the market the properties have languished for too long, this process is sometimes just depressing. Since the financial crisis, many regional markets seem to be generally static , but at present sales data have concluded that the time spent on property sales in England and Wales outside of London and southern England, began to decline.

Across the UK the average time spent in the market in may fell to 102 days, which is 8 days less than in may 2012.

If to compare with may of 2009, when prices were under strong pressure, average time of sale was 184 days, which is 80% more than under current conditions.

However, we should note a significant difference in time between the regions. London and South East England topped the list with a time of finding the object on the market for about 70 days, and this figure continues to fall. On the other side are the North-East, where the relevant period was 198 days, or 6.5 months. Unfortunately, this figure has even increased over the past 12 months for 9 days and this is a clear sign that the real estate market in the Northwest is still in depression.

But in General, sales decreases in all other regions of England, Scotland and Wales.

In the County of Yorkshire and Wales saw the biggest decline from may 2012 – by as much as 30 days.

Despite the fact that the time of sale – value, depending also on seasonal factors, but the time required for the sale of real estate, is an important indicator of the real health of the local real estate market. It is a reflection of the market movement which shows agents, buyers and sellers how the market moves and the market’s ability to make deals.

Always dynamic areas of London and the South East continue to enjoy rapid sales, but it is encouraging to note that other areas of the country saw a reduction in the time of sale. Don’t underestimate the return of confidence in the sellers that was the result of reduction of time of sales in the 3-4 weeks on average in the country. The confidence of the seller is transferred to the entire chain involved in the construction industry, which gives positive impetus to the economy as a whole.

® Helen Entree. 24.05.2013