Three beds proving quickest to sell

Jessica Nangle

September 17, 2019

residential property transactions

Properties with three bedrooms are reportedly the quickest to sell according to the latest data from GetAgent.

The data found that three-beds are taking an average of 122 days to sell across the UK, closely followed by two beds at 126 days.

Five beds reportedly take the longest to sell at 173 days.

GetAgent looked at data from all major portals which they then cross-referenced with the Land Registry using proprietary algorithms.

This created a record of what was selling, where, for how much and how long it is taking.

The nine quickest areas for three-bed property sales are all located in Scotland, with properties in Lanarkshire selling in 55 days.

Colby Short, founder and chief executive of GetAgent.co.uk, said: “Three-bed homes are hot property in current market conditions and as a result, those with one to sell can expect a quicker transaction than others in the market, even in London.

“A three-bed is typically the first family foot on the ladder for growing families and often the last time a buyer will upsize for the long-term, if not completely.

“That’s why they’re consistently in high demand but there is a real lack of suitable stock currently on the market, as well as an insufficient level being delivered by housebuilders to meet this demand.

“As a result, three-bed homes are bucking wider market trends to sell much faster than the rest and will continue to do so.”

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