These are the UK's speediest property markets

 
Sarra Gray
House Prices Are Stagnant In London
Regional cities have the fastest selling homes (Source: Getty)

More people are moving out of London and choosing to buy their homes in regional cities, according to new research.

The study, by Strutt and Parker, found it now takes four weeks less to sell a house in the UK now than it did five years ago. The average time taken for homes to go from "on sale" to "under offer" is now 61 days, compared to 87 days in 2012.

The speediest markets were regional cities, with houses in Bristol taking only 34 days on average to sell. Coventry and Edinburgh followed close behind, with homes selling in 35 and 36 days respectively.

Other cities attracting buyers quickly included Gloucester, Portsmouth, Southampton, Birmingham and Norwich: properties in those locations all sell in under 44 days, the study suggested.

James Mackenzie, head of country houses at Strutt & Parker, said: “There are several cities that are now seen as alternatives to London; they offer career opportunities, a contemporary lifestyle and appeal to people who have been priced out of the capital’s housing market."

Read more: London among worst UK cities for house price growth

Speediest cities

Location Days to sell* 2017
Bristol 34
Coventry 35
Edinburgh 36
Glasgow 37
Gloucester 39
Portsmouth 40
Southampton 40
Cambridge 40
Birmingham 42
Norwich 44
UK average 61

Getting faster

Since 2012, the biggest improvements in selling time have happened up north, with the time taken to sell in Glasgow falling 56 days, from 93 to 37 days. There was a 53-day decrease in Edinburgh, with selling times falling from 89 to 36 days. These improvements are both over double the UK average of a 26 day decrease to sell over the past five years.

Stephanie McMahon, head of research at Strutt and Parker, said: “Property sales in Scottish cities have been adversely affected by the independence referendum and volatility in oil prices. It is good to see that some of the uncertainty has come out of the market.”

The research showed Oxford, Cambridge and Aberdeen were the only UK cities with slower property markets than in 2012.

Read more: UK house prices are up in October - but that isn't translating into sales

Property hotspots

Location Days to sell 2012 Days to sell 2017 Difference
Glasgow 93 37 -56
Edinburgh 89 36 -53
Salford 97 45 -52
Leeds 100 54 -46
Carlisle 114 68 -46
Stirling 100 54 -46
Coventry 81 35 -46
Stoke-on-Trent 94 51 -43
Manchester 87 45 -42
Lichfield 92 53 -40
UK average 87 61 -26

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