Location, Location, Location

Zoopla revealed new research in an interesting article, that whether you work in the property market industry or not, you’d still be interested in the findings, it is afterall about Location, Location, Location!

The article I am referring to, is The 25 locations where homes sell the fastest in November 2023.

Should I giveaway the location that topped the chart? Why not, but certainly still go and read the full article.

#1 was Liverpool, North West. With an ‘Average time to sell’ of just 17 days! That means it was 17 days from the time it takes a property to be listed in Liverpool, to being sold subject to contract.

And #25 for a comparison, Cambridge, East of England, where the ‘Average time to sell’ was recorded as 28 days.

But lets remember this is an article listing the 25 locations where homes sell the fastest, they also go on to say that from their research the average time to sell a home is currently 34 days, which matches pre-pandemic trends for this time of year.

Investors are always chasing good rental returns and due to prices in the south and midlands, this means that investment returns in those locations are not as strong and would be unlikely to provide much of a return in the current rate market. That means that we’ll potentially see a rise in investors going north, east, and west to find properties that work in the current rate environment.

We are familiar with property prices across the UK, its what we do, and although properties in these fast selling locations have lower purchase prices, they will often rent for similar values compared to the South. So they actually work better with the current mortgage environment and can withstand higher rates and further rises.

The investors who will follow these research trends, will need to quickly learn about the new locations and it can be challenging for investors if they don’t have a good agent, to manage investment projects away from their base.