Zoopla has revealed that it has seen an increase in the average number of days it takes to sell a property in around half of local authorities across England and Scotland.
Many areas in Scotland find it easy to sell a property, with it taking only two weeks for a few Scottish areas to get rid of their homes.
Here is where it takes the least amount of time and the most amount of time to sell a property in the North East.
Where are the fastest and slowest selling locations in the North East?
For those living in North Tyneside, it only takes an average of 26 days to sell a home.
Houses in North Tyneside cost an average of £245,326 over the last year, with semi-detached properties costing around £261,473, according to Rightmove.
Flats in the area only cost £138,256, while terraced properties sold for an average of £238,063.
However, if you are trying to sell your home in Middlesbrough, it will take an average of 54 days.
Homes in Middlesbrough cost an average of £168,078, with semi-detached properties selling for around £163,346 over the last year.
Terraced properties cost £102,546 and detached properties cost a bit more at £284,421.
Richard Donnell, executive director at Zoopla, said: “While the national time to sell has barely moved, that stability is masking a real divide opening up between local markets.
“In areas like Melton in Leicestershire, homes are taking noticeably longer to sell than a year ago, while markets just a short drive away are speeding up.
“If you’re selling in a slower market, don’t take a ‘wait and see’ approach – talk to a local agent who knows what’s happening street by street, and make sure your home is priced right from day one.”
The increase in the average number of days it takes to sell a house is likely because of higher average mortgage rates, with buyers taking a “wait and see” approach when considering buying a house.
Why do you think it is quicker to sell a home in North Tyneside compared to Middlesbrough? Let us know in the comments.
