Have you ever wondered just where in the country homes are selling faster than anywhere else?
In a story published last month, the Express newspaper insisted that it had the answer. Quoting research compiled by estate agents Zoopla, the Express revealed some surprising results, which placed Northampton, Milton Keynes and the London suburb of Croydon in the top three “hotspot” places (based on the amount of time it takes between a home being put up for sale and an offer being made), in 50 of the largest towns and cities across the UK, outside of inner London.
Across the UK as a whole, the average length of time between a home being advertised for sale and an offer being made is 47 days. That interval is shortened by 5 days, on average, in the parts of the country where homes tend to sell more quickly – the southeast and east of England.
As evidence of much faster house sales in the top three hotspots, however, the newspaper reveals that in Northampton the average time from advert to offer is just 27 days, in Milton Keynes it is 29 days, and in Croydon it is 30 days.
The top ten
But there are other surprises, too, with a number of – seemingly unlikely – towns which boast lower than average score:
- 32 days in Edinburgh;
- 33 days in Glasgow;
- 34 days in Bristol;
- 34 days in Southampton;
- 35 days in Coventry;
- 36 days in Salford; and
- 36 days in Ipswich.
The poorest performers – with the longest waiting times between advertising for sale and offers being made – include Wales (66 days), the Northeast of England (61 days), the Northwest (55 days) and Yorkshire and Humberside (also 55 days).
Our own research
But you don’t have to take Zoopla and the Express’ word for it. Here at UKinsuranceNET, we have compiled our own database of property hotspots – so if your appetite has been whetted, why not check out the series?
We have investigated many more than 50 towns and cities, looking specifically at the lowest, average and most expensive recent house prices in order to evaluate the location as a good place in which to invest.
We go further than that, by looking at the overall population profile of the town or city, as an indication of the likely demand for homes to buy or to rent – and the attractiveness for property investment.
This is closely related to the health of the local economy, of course, so we trawl synopses – prepared largely by local governments.
In this day and age of an essentially mobile workforce, we also assess the location of the town or city and its transport – road, rail and air – connections to the rest of the country, and beyond.
Many of our prospective property investors also have children to bring up, so we survey the educational opportunities and facilities in the area – from primary through to tertiary education.
Investors are likely to be residents, too, so a snapshot of the local environment – its landscapes, parks, gardens and recreational facilities – is also looked at.
Just for fun, we also unearth a few strange, little known or bizarre facts about the town or city under review.