And finally…the fastest place to sell a million pound home in the UK revealed

Properties in Edinburgh such as Balquharrie House are finding buyers at a speeds second only to those in the East of England (Image courtesy of Rightmove)

The East of England is the fastest region in the UK for properties selling over the £1 million mark, new data has shown, with Scotland taking second place.

In the East of England it takes an average of 87 days to secure a buyer, with the high end market particularly active in Cambridge, where it only takes an average of 45 days to secure a buyer, which is twice as fast as the national average.

However, Scotland is the second fastest region to sell a home for £1 million plus, where on average it takes 94 days, 19 days faster than last year.



Edinburgh in particular is an area where sales perform well, taking on average just 53 days to secure a buyer, compared with 76 days last year.

Within the South East, Winchester has the fastest selling time with an average of 60 days, an improvement of two days on the previous year.

Greater London has an average selling time of 99 days, where Hackney is the fastest selling, where it takes on average 62 days to sell a property around the £1 million mark.

The average time taken to secure a buyer in the West Midlands is slightly higher than Greater London taking 106 days.

The time taken to secure a buyer in the East Midlands is just slightly longer than the West, taking 107 days on average.

On average the South West takes 109 days to secure a buyer, compared with only 104 days last year.

Within that reion, Bristol came within the top five places to sell a home for £1 million or more, with an average of 54 days.

Yorkshire and The Humber, meanwhile, had an average selling time of 120 days, longer than 97 days in the previous year.

And In the North East it takes 124 days on average to secure a buyer in the million pound market.

There was a slight decrease in the time taken to secure a buyer between 2017 and 2018 in the North West, as it now takes on average 9 days less at 131 days, Rightmove said.

Of all the UK regions, Wales had the slowest selling time of 173 days.

 

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