The time of sale of the real estate market of England and Wales is decreasing

The standard time of the sale of the property on the market – a key index, which is an indicator of market movement . Recently published new data from Home.co.uk. According to published data, the average time of sale of the property markets of England and Wales is now 90 days. This is a very short time starting in 2008.

However, the report noted that 90 days is very average, not reflective of the real scatter market, which, in the context of the regions where something is in a state of severe overheating but is still in a state of deep stagnation. One side is London, where the lowest time of sale of residential property – Colo 48 days, equivalent to the period preceding the previous boom in property in London.

South-East England also demonstrates rapid speed of sale. Great demand for coastal properties is fueled by the program “Help to buy” and low interest rates. In contrast to London and the South-East, North-East of England and in Wales the standard time of sale of residential property 166 and 167 days, respectively. Many of the objects in these regions are on the market for years. Sellers , however, are not ready to reduce price and just waiting for the market to start growing again.

Pretty difficult situation with the property now on the market in Yorkshire, in the North-West of England, Scotland and Wales, which confirms the long stay facilities in the market. In addition, in this situation there is a positive side of the coin. The number of objects corresponds to the demand from buyers, the regions do not feel this lack of real estate, as the South of England Central part of it.

However, it is noticeable that over the past year, conditions in the real estate market in Northern England, Scotland and Wales have improved significantly and perhaps in the near future, the boom in real estate, which covers many regions of the UK, has come to these regions.

® Alice Morgan. 05.06.2014 G.

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