NEW analysis has revealed the Chester (CH) postcodes where houses sell the fastest and also the slowest.
The latest data identified that the average time taken for to complete a house sale across a CH postcode in the last year was 124.75 days. However, there is a lot of variation across the area, with the fastest average sale taking 111 days and the slowest taking almost 25 per cent longer, at 138 days.
Over 1,220 property sales across the region between October 2022 and October 2023 have been analysed in order to determine which areas see houses sell the fastest and which ones struggle to sell.
Statistics from Property Solvers - a professional house buying firm - track the moment a property is listed on the UK's leading property portals until the point it's marked as officially 'sold' at the HM Land Registry.
Properties were selling the fastest in Ellesmere Port (CH65), Chester (CH1) and Wirral (CH62) adopting a minimum number of 20 property sales in a given area. In the top 10 areas, Property Solvers revealed that homes took 117.50 days (16.79 weeks) to sell on average.
Homes were selling the slowest in the Wirral (CH47), Wirral (CH49) and Chester (CH4) postcodes (also sampling a minimum data set of 20 property sales). In the bottom 10 postcodes, the data showed that properties were taking 132.40 days (18.91 weeks) to sell on average.
Ruban Selvanayagam of Property Solvers commented: "The property market is certainly in a different place relative to a couple of years ago. The continued pressures on the mortgage sector and buyers ability to secure the right kind of finance has resulted in delays with sales completing.
"Combined with the recognised ‘snail pace’ nature of the conveyancing process, it’s likely that these trends are likely to remain for some time."
To try Property Solvers' speed of sale tool, visit: www.propertysolvers.co.uk/sell-house-fast/#how-fast.
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