The million pound plus market is most active in Cambridge reveals Rightmove

June 7, 2018

New analysis by the UK’s number one property website Rightmove reveals that the million pound plus market is most active in Cambridge, with homes on the market for £1 million or more selling twice as fast as the national average.

The national average time to agree a sale to a buyer in this price bracket is 99 days, up from 94 days last year. In Cambridge this drops to only 45 days according to Rightmove.

Rightmove’s Housing Market Analyst Miles Shipside comments: “Hotspots like Cambridge have helped the East of England take over the mantle from London in recent years, with this region now selling million pound plus properties 12 days quicker than in the capital. The Scottish million pound plus market has also picked up as the increased activity in the overall housing market in Scotland is having a positive knock on effect on the higher end, especially in cities like Edinburgh.”

Shipside advises: “Those lucky enough to be selling a home worth a million or more should think carefully about what they can do to make their home stand out. Potential buyers will be wondering if they can afford not only to trade up to the next rung of the ladder, but also to stump up stamp duty fees of over £40,000 in England and even more in Scotland and Wales. They should also bear in mind that it could take some months to secure an offer so putting their home on the market now will prevent a mad rush to find a buyer when they find something that they have their heart set on.”

The average time it takes an agent to strike a deal for a property usually increases the higher up the ladder or price bracket you go. For example, homes worth £300,000 or under take an average of just under two months (58 days) to find a buyer, while this new analysis shows that property millionaires can be waiting over three months, based on the properties that do actually sell.

Source of information Rightmove.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Home and Living

Signs of Outdated Wiring in Older Tulsa-Area Homes

Tulsa has a lot of beautiful older homes. Brookside bungalows, Maple Ridge tudors, the postwar neighborhoods that fill out Midtown and East Tulsa. They were built well, but most were built before central air, before microwaves, before two-car households with two laptops and a dozen phone chargers. The electrical systems inside them were designed for…
Read More →
LIVING BY THE SEASIDE 2022
Breaking News

Britain’s seaside price hotspots revealed

New analysis from the UK’s largest property platform Rightmove reveals Britain’s seaside hotspots where prices are rising the fastest Bootle in Merseyside leads the way, with average asking prices up 11% year-on-year, followed by Crosby in Liverpool (+9%) and Penarth in South Glamorgan (+9%) Other coastal locations including Llantwit Major in South Glamorgan (+8%) and Llanelli, in Carmarthenshire (+7%) are also seeing strong price growth Average asking prices are currently 0.3% lower in Great Britain compared to last year, with some seaside hotspots outpacing the…
Read More →
Estate Agent Talk

Hertfordshire emerges as strongest performing London commuter county

New research from UK Property Development reveals that while London property prices fell by more than -3% in the past year, prices in some of the capital’s surrounding counties have enjoyed positive growth, none more so than the premium commuter county of Hertfordshire.   In the past year, London’s average house price has fallen by…
Read More →
Estate Agent Talk

Second homes losing appeal among the rich

New Survey Reveals Ongoing Maintenance Is the Biggest Barrier to Second Home Ownership   62% say upkeep and hassle would stop them from buying a second home, even if money were no object   A new survey conducted by luxury co-ownership platform Equity Residences has revealed that the practical realities of owning a second home…
Read More →
Letting Agent Talk

How to build a property portfolio with buy-to-let mortgages

One of the reasons property is such a popular asset choice for investors is that you don’t need to invest all the money yourself; you can leverage funds from the bank. Here’s a very simplistic example of how borrowing via a buy-to-let (BTL) mortgage allows you to multiply your returns versus owning a property all-cash:…
Read More →
Home and Living

2026’s Fastest-Growing Bathroom Trend Is the Wet Room

“Wet rooms have become one of the standout bathroom upgrades of 2026, moving from luxury extra to everyday renovation choice as more homeowners prioritise space, style and easy cleaning. The momentum is only building as spa‑style bathrooms stay in demand.” “Wet rooms used to be a niche request,” says Ant Langston, Marketing Manager at Heat…
Read More →