Britain’s fastest and slowest housing markets unveiled

Posted on Thursday, October 3, 2024

Carluke in Lanarkshire is Great Britain’s fastest-selling market this year, with sellers in the area finding a buyer in an average of 15 days, Rightmove’s Speed of Market Tracker reveals.

Giffnock in Glasgow is the second quickest market, with homes finding a buyer in 16 days, and Uddingston in Glasgow is third, taking 17 days on average. Both are in commuting distance to central Glasgow.

The top ten quickest locations across Great Britain to find a buyer are in Scotland, and all the current hotspots are selling faster than they did a year ago.

The average time to find a buyer in Scotland is now 33 days, compared with 32 days last year. Scotland remains the quickest market in Great Britain, while the East Midlands takes the longest on average (67 days).

Nine out of the ten slowest markets to find a buyer are coastal towns, including Brixham in Devon and Minehead in Somerset.

The quickest London markets are further out from the centre, with sellers in Walthamstow, Stoke Newington and Dagenham currently finding a buyer the quickest.

Central London locations such as Knightsbridge, Chelsea and Victoria are the slowest London markets to find a buyer this year, with Knightsbridge slowing by 24 days compared to last year. Price is likely playing its part, as these areas are all premium locations in London with fewer mass market buyers.

Across Great Britain, it is currently taking 60 days on average to find a buyer.

Terraced houses are currently finding buyers fastest at 51 days, while detached houses are taking the longest to sell at 73 days.

Tim Bannister, property expert at Rightmove, says: “Carluke has taken the top spot again this year for the fastest market across Great Britain, underlining the continued speed of the market in this part of Scotland. The Glasgow commuter towns of Giffnock and Uddingston are high on the list right now, suggesting buyers are looking for easy access to the city centre, whilst enjoying the increased space that being further out can bring.

“In London, commuter areas such as Walthamstow and Dagenham are leading the way in finding buyers the quickest, likely driven by well-connected transport links and more affordable prices compared to central zones. By contrast, more exclusive central locations like Knightsbridge and Chelsea are taking longer to find buyers, as these high-end markets typically move at a different pace.”

Rightmove’s Speed of Market Tracker – Britain’s quickest markets: 

Area Region Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year Average asking price
Carluke Scotland 15 -3 £170,468
Giffnock Scotland 16 -3 £363,881
Uddingston Scotland 17 -4 £219,481
Renfrew Scotland 18 -3 £160,664
Falkirk Scotland 18 -2 £158,181
Grangemouth Scotland 19 -7 £122,556
Bellshill Scotland 21 -5 £125,937
Clarkston Scotland 21 -5 £276,715
Wishaw Scotland 21 -6 £133,747
Kilmarnock Scotland 21 -5 £132,117

Britain’s quickest markets outside of Scotland

Area Region Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year Average asking price
Whitehall South West 25 0 £349,376
Moston North West 26 -16 £195,992
Downend South West 29 -3 £410,535
Heaton North East 30 2 £224,444
Whitehaven North West 30 -14 £164,324
St. George South West 30 2 £315,050
Levenshulme North West 30 -17 £243,423
Alvaston East Midlands 32 -2 £192,432
Walkley Yorkshire and The Humber 33 8 £234,549
Meanwood Yorkshire and The Humber 33 -5 £290,275

Britain’s slowest market 

Area Region Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year Average asking price
Brixham South West 118 12 £338,011
Skegness East Midlands 115 39 £197,845
Sandown South East 109 36 £252,908
Abergele Wales 106 32 £231,701
Minehead South West 103 24 £298,345
Bessacarr Yorkshire and The Humber 100 21 £270,464
Cleethorpes Yorkshire and The Humber 99 25 £176,334
Canford Cliffs South West 99 22 £1,223,116
Hayling Island South East 99 3 £424,135
Barton-On-Sea South East 98 38 £568,707

London’s quickest markets

Area Borough Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year Average asking price
Walthamstow Waltham Forest 32 -4 £553,534
Stoke Newington Hackney 40 -10 £769,966
Dagenham Barking and Dagenham 42 -6 £359,634
Leyton Waltham Forest 43 -3 £575,493
Snaresbrook Redbridge 44 -3 £595,709
Forest Hill Lewisham 44 -6 £582,630
Highbury Islington 44 -4 £896,423
Chessington Kingston upon Thames 45 15 £484,199
Eltham Greenwich 45 1 £492,882
Woodford Redbridge 46 -11 £646,526

London’s slowest markets

 

Area Borough Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year Average asking price
Knightsbridge Westminster 135 24 £4,011,734
Chelsea Kensington and Chelsea 108 18 £1,850,264
Victoria Westminster 100 5 £1,400,369
Heston Hounslow 95 17 £506,947
Kingsbury Barnet 94 17 £501,561
Kensington Kensington and Chelsea 91 0 £2,152,791
Stanmore Harrow 88 -5 £732,510
Finsbury Islington 87 8 £894,920
Brentford Hounslow 86 6 £529,183
Cricklewood Brent 85 3 £660,459

Regional view

Region Average time to find a buyer (days) Change in time to find a buyer (days) compared to last year
Scotland 33 1
North East 52 4
North West 58 0
UK 60 3
West Midlands 60 4
Yorkshire and The Humber 61 3
London 63 0
South East 63 2
South West 64 7
East of England 65 4
Wales 66 2
East Midlands 67 6

 Via @PropertyIndustryEye