A study reveals that Birmingham, Bristol and Manchester currently have the best market conditions for selling.
PropCast’s monthly England & Wales House Selling Weather Report analysed buyer demand for each postcode district and classed the market conditions in each postcode as degrees. These range from 0%-20% (very cold) in stages up to 35%-50% being hot and anything above 50% being very hot.
At 70 degrees are postcode districts in Bristol (BS5) and Manchester (M32) – meaning it is a very hot sellers’ market for each location.
These were followed - all in the high 60’s - by BS3 Bristol, S18 Sheffield, B27 Birmingham, BS6 Bristol, B34 and B37 Birmingham, BS4 Bristol and B28 Birmingham.
The top coldest postcode districts – all under 10 degrees - were mainly in London and Greater London in these postcodes: NW8, WC2, SW8, W2, SW10, W1, SW5, SW7
However, L2 in Liverpool and SA64 in Pembrokeshire, Wales also feature in the ten coldest locations.
Commenting on the data, a spokesman said: “By noting the ‘hot’ and ‘cold’ buyers’ markets are, PropCast can help homeowners determine how quick and easy or slow and hard it will be to sell their homes.”
“Homeowners in the hottest postcodes have it easier than elsewhere to sell as the balance of power is skewed in their favour because there are more buyers than homes for sale. Properties sell quicker and often after a bidding war as a result – as long as the initial asking price is set realistically.”