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Largest real estate markets in Britain unveiled and Edinburgh is top, says Zoopla

Property in Edinburgh is popular with homes that are usually sold in just 22 days, new research has revealed.

It is the fastest place to sell a house in Great Britain, according to the latest figures from the real estate website Zoopla.

It is 25 days faster than the average in Britain and is less than half the time in London, where houses usually need 54 days to sell.

Zoopla reveals the fastest places to sell your property, with Edinburgh at the top of the list

Zoopla reveals the fastest places to sell your property, with Edinburgh at the top of the list

Zoopla reveals the fastest places to sell your property, with Edinburgh at the top of the list

TOP 10 FASTEST MOVING CITIES IN GREAT BRITAIN
Rank City Average days to secure an offer Average value of the property (October 2018)
1 Edinburgh 22 £ 287,865
2 Glasgow 27 £ 182,816
3 Cardiff 32 £ 238,241
4 Northampton 33 £ 258,583
5 Birmingham 33 £ 198,890
6 Bristol 34 £ 324,110
7 Nottingham 35 £ 200,687
8 Stoke-on-Trent 36 £ 148,326
9 Manchester 36 £ 187,838
10 Leicester 38 £ 226,951
Source: Zoopla

Buyers who are looking for a house in Glasgow and Northampton must also act quickly, with houses in these areas usually offered within 27 and 33 days respectively.

The top five fastest places to sell a house are Cardiff at 32 days and Birmingham at 33 days.

It seems that Edinburgh and Glasgow are hot markets because of a lack of available properties, meaning they are looking for homes.

A broker in Edinburgh, John Brown from John Brown and Company, said: "Edinburgh has fewer properties for sale, market demand is more than supply, prices are rising."

Meanwhile, Graeme Lusk of brokers Walker Fraswer Steele said in Glasgow: "Still, a strong buyer's market at popular locations as a lack of stock on the market is continuing to maintain strong sales prices. & # 39;

The average time needed to sell a property in Edinburgh is 22 days, with this three-bedroom flat in the Mertoun Place of the city currently on the market for £ 285k

The average time needed to sell a property in Edinburgh is 22 days, with this three-bedroom flat in the Mertoun Place of the city currently on the market for £ 285k

The average time needed to sell a property in Edinburgh is 22 days, with this three-bedroom flat in the Mertoun Place of the city currently on the market for £ 285k

BRITISH REGION & # 39; S REFUNDED BY THE TIME TAKEN UNDER OFFER
Rank British region Average days to secure an offer Average value of the property (October 2018)
1 Scotland 38 £ 189,808
2 West Midlands 38 £ 228,877
3 East Midlands 40 £ 216,425
4 Yorkshire and The Humber 46 £ 177,668
5 South West England 47 £ 299,936
6 East of England 49 £ 354,918
7 North West England 49 £ 194,346
8 South East England 50 £ 405,874
9 London 54 £ 651,033
10 North East England 54 £ 189,071
11 Wales 55 £ 186,098
Source: Zoopla

On a regional level, houses in Scotland and the West Midlands have the hottest & # 39; real estate market, with homes in both areas offered for sale in 38 days, followed by the East Midlands at 40 days.

Buyers are attracted by the relatively lower house prices, with average values ​​of £ 189,808 in Scotland, £ 228,877 in the West Midlands and £ 216,425 in the East Midlands.

It is comparable to London, one of the slowest places to sell a house after 54 days, where the average values ​​are the highest in each region for £ 651,033.

In the northeast of the country it is on average 54 days to sell in Wales, it takes 55 days.

The average time needed to sell a home in Cardiff is 32 days, with this four-bedroom house in the current Brithdir Street plant for sale for £ 240k

The average time needed to sell a home in Cardiff is 32 days, with this four-bedroom house in the current Brithdir Street plant for sale for £ 240k

The average time needed to sell a home in Cardiff is 32 days, with this four-bedroom house in the current Brithdir Street plant for sale for £ 240k

The average time needed to sell a home in Northampton is 33 days, with this three-bedroom house in the Bush Hill currently on sale for £ 259,995

The average time needed to sell a home in Northampton is 33 days, with this three-bedroom house in the Bush Hill currently on sale for £ 259,995

The average time needed to sell a home in Northampton is 33 days, with this three-bedroom house in the Bush Hill currently on sale for £ 259,995

TOP 10 QUICKEST LONDON BOROUGHS
Rank London Borough Average days to secure an offer Average value of the property (October 2018)
1 Bexley 36 £ 370,818
2 Barking and Dagenham 37 £ 298,954
3 Havering 42 £ 385,221
4 Sutton 43 £ 449,672
5 Waltham Forest 43 £ 453,067
6 Croydon 46 £ 427,138
7 Redbridge 47 £ 457,887
8 Enfield 48 £ 468,171
9 Newham 49 £ 379,425
10 Bromley 49 £ 510,977
Source: Zoopla

Bexley is ranked as the fastest moving neighborhood in London, with offers that take 36 days. The average house price in the area is £ 370,818.

It is followed by the London district of Barking and Dagenham on 37 days, with average prices of £ 298,954.

Lawrence Hall, of Zoopla, said: "Potential buyers and sellers should find this information useful because it gives them a good picture of the demand for which the houses have much demand.

& # 39; It is also interesting to see the dominance of Scotland in the list, an indication of the market for cooling in the south of the country.

With this in mind, it is worth noting that London properties need seven days longer to sell than the national average. & # 39;

Zoopla analyzed an example of properties offered for sale on its website between the beginning of this year and last month.

The average time needed to sell a home in Birmingham is 33 days, with this three-bedroom house in the Woodhouse Road in the area currently on sale for £ 200,000

The average time needed to sell a home in Birmingham is 33 days, with this three-bedroom house in the Woodhouse Road in the area currently on sale for £ 200,000

The average time needed to sell a home in Birmingham is 33 days, with this three-bedroom house in the Woodhouse Road in the area currently on sale for £ 200,000

It comes as a separate research that was revealed earlier this week that even the cheapest houses are unreachable for four out of ten young adults.

The findings of the Institute for Fiscal Studies found that about 40 percent would not be able to buy one of the cheapest houses in their area, even if they managed to save a 10 percent deposit.

In 1996, more than 90 percent of 25-34 year-olds with a 10 percent down payment could have bought a house in their neighborhood if they lent their salaries four and a half times.

The IFS found that this percentage had dropped to around 60 percent in 2016 and about a third in London.

The mortgage interest rate has fallen to a historically low level and remains there in the neighborhood, despite the increase of the base rate in August by 0.75 percent.

However, with house prices averaging six times the UK earnings, according to the Nationwide index and considerably more expensive in some parts of the country, buyers can not extend to a home, even with low mortgage rates.

These recently-led real estate inspectors and real estate agents have called for austerity to pay the stamp duty to help buyers climb the real estate ladder.

The Royal Institution of Chartered Surveyors pleaded for a thorough review of wealth taxation after a survey among its members showed that they felt older homeowners were downsized by costs, hiding the real estate market.

Part of this bottleneck is caused by the fact that existing homeowners are not relocating and Rics claims that this often happens because they do not want tens of thousands of pounds to be surrendered in stamp duty.

  The average time needed to sell a property in Croydon is 46 days, with this two bedroom house in the Aurelia Road in the area currently on the market for £ 350,000

  The average time needed to sell a property in Croydon is 46 days, with this two bedroom house in the Aurelia Road in the area currently on the market for £ 350,000

The average time needed to sell a property in Croydon is 46 days, with this two bedroom house in the Aurelia Road in the area currently on the market for £ 350,000

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