Over half of homes in England and Wales are experiencing longer selling times this summer, a trend attributed to higher mortgage rates, according to property portal Zoopla. Data indicates that properties in 180 out of 363 local authorities are taking more time to sell.
Eight areas now require 60 days or longer on average to find a buyer. Melton in the East Midlands leads this trend, with the average home taking 76 days to sell. Westminster in London and Teignbridge in the South West both see homes selling in an average of 63 days.
Despite these regional shifts, the national average time to sell has remained at 42 days, highlighting a growing disparity across local markets. Richard Donnell, executive director at Zoopla, advises sellers in slower markets to price their homes correctly from the outset.
In contrast, Scotland features the fastest-selling markets, with all of the top 10 quickest areas located there. Falkirk leads with an average selling time of just 11 days, followed by Renfrewshire and North Lanarkshire at 13 days.