Second-stepper sellers most likely to find a buyer before Christmas as prices jump 1.1%

Second-stepper sellers most likely to find a buyer before Christmas as prices jump 1.1%

September transaction

  • 1.1% (+£3,432) rise in average asking prices of 104,000 newly marketed properties compared to previous month
  • New sellers ask higher prices in eight out of ten regions despite sales agreed numbers being down in nine of the ten this month compared to September 2016
  • Average time to find a buyer is 63 days, so with Christmas 69 days away which sellers have the best odds of festive cheer?
  • Most likely to sell are second-stepper properties, with average time to find a buyer of 60 days, followed by first-time-buyer type properties at 62 days
  • Top of the ladder properties take 76 days on average so less likely to sell before Christmas
  • Northern sellers more likely to find a buyer with sales agreed numbers down by a modest 3.0% on September 2016, compared to the South where sales are faring worse, down by 7.9%
  • In spite of a more challenging environment, sales agreed numbers year-to-date are still 1.1% ahead of 2016

Source: Rightmove