Three really is the magic number for a quick house sale

September 17, 2019

The latest data from estate agent comparison site, GetAgent.co.uk, has found that three really is the magic number when it comes to the number of bedrooms in a property and the time it’s taking to sell in current market conditions.

GetAgent.co.uk pulls data from all of the major portals which they then cross-reference with the Land Registry using proprietary algorithms to create a comprehensive record of what is selling, where, for how much and how long it’s taking.

GetAgent’s latest research looks at the number of bedrooms in a property and how quickly each threshold takes to sell in current market conditions, companies who buy houses are very handy to look at, especially if you need to sell quickly and also just to check how much they would be willing to offer you for your house.

The best bet for home sellers to beat the Brexit blues is to be selling a property with three bedrooms. So far this year, three-beds are taking an average 122 days to sell across the UK, the quickest of the lot, with two-beds close behind at an average of 126 days.

Four-beds are the next most popular option for homebuyers taking an average of 141 days, with one-beds taking 150 days, with five-beds the longest of all at 173 days.

If you really want to sell quickly, owning a three-bed in Scotland is the ticket. The nine quickest areas for three-bed property sales are all located in Scotland, with Lanarkshire the quickest of the lot with an average selling time of 55 days.

Outside of Scotland, Mansfield is the quickest with an average selling time of 72 days, followed by Ashfield (73 days) and Salford (73 days).

Three-beds are also the quickest to sell in the capital with an average selling time of 148 days, with Bexley the quickest at 98 days, followed by Sutton (100 days), Waltham Forest (103 days), Barking and Dagenham (108 days) and Havering (118 days).

Founder and CEO of GetAgent.co.uk, Colby Short, commented:

“Three-bed homes are hot property in current market conditions and as a result, those with one to sell can expect a quicker transaction than others in the market, even in London.

A three-bed is typically the first family foot on the ladder for growing families and often the last time a buyer will upsize for the long-term, if not completely.

That’s why they’re consistently in high demand but there is a real lack of suitable stock currently on the market, as well as an insufficient level being delivered by housebuilders to meet this demand.

As a result, three-bed homes are bucking wider market trends to sell much faster than the rest and will continue to do so.”

Room Number & Time to Sell
Number of Rooms
Time to sell (days)
3 bed
122
2 bed
126
4 bed
141
1 bed
150
5 bed
173
ALL
136
 
Three-bed Properties (UK)
Location
Time to sell (days)
Lanarkshire
55
West Lothian
58
East Renfrewshire
58
Glasgow
60
North Lanarkshire
62
Edinburgh
67
East Dunbartonshire
68
Midlothian
71
South Lanarkshire
71
Mansfield
72
Ashfield
73
Salford
73
North West Leicestershire
73
Rugby
75
Bromsgrove
75
East Lothian
76
Torfaen
78
Trafford
78
Broxtowe
78
Bromsgrove Worcestershire
79
Three-bed Properties (London)
Borough
Time to Sell (Days)
Bexley
98
Sutton
100
Waltham Forest
103
Barking and Dagenham
108
Havering
118
Greenwich
118
Lewisham
121
Merton
122
Redbridge
123
Bromley
124
Enfield
127
Kingston upon Thames
127
Croydon
127
Hounslow
128
Newham
136
Harrow
139
Hillingdon
139
Ealing
144
Lambeth
148
Haringey
149
Richmond upon Thames
151
Hackney
151
Islington
152
Wandsworth
152
Barnet
156
City of London
165
Southwark
169
Brent
171
Hammersmith and Fulham
173
Tower Hamlets
174
Kensington and Chelsea
225
Camden
239
Westminster
302
LONDON
148

 

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