As we move into the warmer months of 2024, the property market in the UK is experiencing a noticeable shift. Homes are selling faster, with terraced houses leading the pack, closely followed by semi-detached houses. This article explores the current trends in the current property market, focusing on how quickly different types of homes are selling and providing valuable tips for sellers looking to speed up their sale.
Terraced Houses: The Quickest Sellers
According to information from Dataloft, terraced houses are currently the fastest-selling property type across the UK, taking an average of just 56 days to sell. This swift turnaround can be attributed to several factors, including their affordability, location and appeal to first-time buyers and young families. These homes often offer a balance of space and convenience, making them highly desirable in urban and suburban areas.
Tips to Speed Up Your Terraced House Sale:
- Enhance Kerb Appeal: First impressions matter. Ensure the exterior of your home is well-maintained, with a tidy garden and a fresh coat of paint if needed.
- Modernise Key Areas: Focus on updating the kitchen and bathroom, as these are significant selling points.
- Declutter and Depersonalise: Create a neutral, inviting space where potential buyers can envision themselves living.
Semi-Detached Houses: Close Contenders
Semi-detached houses follow closely, selling in an average of 58 days. These properties are popular with growing families and those seeking more space than a terraced house offers, while still being relatively affordable compared to detached houses.
Tips to Speed Up Your Semi-Detached House Sale:
- Upgrade Fixtures and Fittings: Modern fixtures in the kitchen and bathroom can make a big difference.
- Showcase Versatility: Highlight any multifunctional spaces, such as home offices or playrooms.
- Stage for Success: Consider professional staging to make your home look its best.
Flats: A Slower Market
Flats are taking an average of 75 days to sell. While they appeal to first-time buyers and young professionals, the market for flats can be more competitive, especially in urban areas where there are many similar properties.
Tips to Speed Up Your Flat Sale:
- Highlight Unique Features: If your flat has a balcony, great views or a particularly good location, make sure these features are prominently featured in your listing.
- Ensure Good Management: If the flat is part of a managed building, ensure that the building is well-maintained and that there are no outstanding issues with the management company.
- Promote Energy Efficiency: Modern buyers are increasingly interested in energy efficiency. Highlight any features that reduce energy consumption, such as double glazing or efficient heating systems.
Detached Houses: The Longest Selling
Detached houses are currently taking the longest to sell, with an average of 78 days on the market. These properties are typically higher in price, which can limit the pool of potential buyers. However, they remain highly desirable for those seeking more space and privacy.
Tips to Speed Up Your Detached House Sale:
- Price Competitively: Ensure your home is priced correctly by getting a professional valuation and considering recent sale prices of similar properties in your area.
- Improve Landscaping: A well-landscaped garden can be a significant selling point. Invest in professional landscaping to make your outdoor space as attractive as possible.
- Focus on Key Rooms: The kitchen and bathrooms are critical. Consider modernising these areas to increase your home’s appeal.
General Tips for All Sellers
Regardless of the type of property you are selling, there are several general tips that can help speed up the process:
- Professional Photography: High-quality photos can make your property stand out in online listings. Consider hiring a professional photographer.
- Effective Marketing: Ensure your property is listed on all major property websites and consider using social media to reach a broader audience.
- Flexibility with Viewings: Be flexible with viewing times to accommodate potential buyers’ schedules.
- Work with a Reputable Estate Agent: A knowledgeable and proactive estate agent can make a significant difference in how quickly your home sells. They can provide valuable advice and market your property effectively.
A Positive Trend
According to Rightmove, the average time to sell a property in the UK has decreased significantly, with the average property taking 64 days to sell in March, the lowest level since October 2023. This is a marked improvement from the 78 days recorded in January. As demand continues to rise, especially in the warmer months, this trend is expected to continue.
If you’re considering selling your home, now is an excellent time to take advantage of the improving market conditions. At Northwood, our team of experienced estate agents is here to help you navigate the selling process and achieve a quick and successful sale. Contact us today to schedule a consultation and learn more about how we can assist you.
