Homes are selling quicker in West London

Michael Lloyd

July 16, 2019

hmrc property transactions

Residential homes are selling quicker in West London, Property Solvers has found.

Covering more central parts of the city including Marylebone and Paddington, stretching out to Chiswick, Ealing and Hanwell, 244 homes took an average of 12 weeks to sell.

Meanwhile the majority of houses across the capital took an average of 16 weeks to sell.

James Durr, Property Solvers’s co-founder, said: “It’s been encouraging to see a relatively speedy velocity of house sales across West London.”

“It’s arguably a testament to estate agents taking a more realistic approach to pricing alongside more efficient mortgage processing, survey and conveyancing process coming into play.”

Homes are taking an average of 15 and a half weeks to sell across Greater London.

The slowest sales times were seen in North London, including Kings Cross, Finchley, Southgate, Barnet and Enfield, and in the London Borough of Sutton.

Property Solvers tracked 7,624 property sales between July 2018 and July 2019.

The tool calculates time period between a property’s initial listing on Rightmove to the point at which it’s officially marked as ‘sold’ at HM Land Registry.

Durr added: “Although we’re not able to monitor every house sale from start to finish at this stage, our data collection has captured a decent cross-section of the Greater London market.

“Whilst the latest statistics revealed that over 20 sales in West Central and East Central London were taking as little as five weeks on average to sell, West London was the best performer (with a more statistically significant number of sales).”

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