Property Solvers’ local house market insights tool tracks when a property is listed on Rightmove’s property portal up until it’s officially marked as sold on the HM Land Registry.
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Highlights from Property Solvers’ house sale research (May 2018 to May 2019), included:
- in Paisley, it took an average of eight weeks for 251 properties to sell
- sellers in Glasgow and Edinburgh were waiting an average of between 13 and 14 weeks respectively from marketing their properties to completion
- the Scottish regions which took the longest to sell a property were Motherwell and Kirkcaldy, where 732 sellers waited an average of 15 weeks
- in England, a relatively small number of sales in central London took between 10 and 11 weeks, but the majority took at least five weeks longer
- 2,054 sellers in Southend-on-Sea, Torquay, north London, Watford and Southall were waiting for an average of 18 weeks to sell their property
Overall, residential properties in Scotland took an average of 12.57 weeks to sell, compared with 16.11 weeks in England and Wales — a difference of 28.16%.
Ruban Selvanayagam, co-founder of Property Solvers, said: “Although the sample size is lower and the system is far from perfect, it’s evident that the English and Welsh conveyancing process could learn some key lessons from Scotland."