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How Long Does It Take To Sell Different Types Of Property In The UK?

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How Long Does It Take To Sell Different Types Of Property In The UK?
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The time has come. You own a property and you want to sell it. It’s a big decision, but everyone involved is on-board and you feel like you’re ready.

But what type of property are you trying to sell? In the UK, there are many popular types of property:

  • Flat
  • Bungalow
  • Cottage
  • Terraced house
  • Detached house
  • Semi-detached house

Whether you are selling in a ‘hot’ market (more buyers than sellers) or a ‘cold’ market (more sellers than buyers) can have a huge impact. In a hot market, the sellers have the upper hand and properties will therefore sell faster on average. But in a cold market, the buyers are in control and won’t rush into a purchase – meaning that your property will take longer to sell. Factor in if you are selling a property with tenants and it can make things a little more confusing too!

The time it takes to sell will also vary based on the price range of your house, how appropriately you price it within that range, and how desirable of a location it is situated in.

Assuming you take the traditional route of selling your property on the market, using an estate agent, here’s how long it can take to sell different types of property in the UK.

Bungalows

Recent data suggests that property developers and councils are building bungalows less regularly. However, this doesn’t mean that buyer interest has gone down.

Many people prefer bungalows because they are more accessible for older and disabled people. They are also easier to clean and maintain than a multi-storey detached/semi-detached property.

Just because bungalows are typically in higher demand, this does not guarantee that you will sell it quickly. Like with any property transaction, there are other factors that influence the time it takes to sell.

For example, you can sometimes expect to sell your bungalow slightly more quickly in an area with an older age demographic. This is because many middle-aged individuals who don’t want to put their parents in a care home, instead set them up in a bungalow.

In a hot market, when your bungalow is priced correctly, it should take less than 90 days to be officially sold. In a cold market, when your bungalow is priced correctly, it will typically take 6 months.

Flats

The time is takes to sell your flat can vary depending on the length of the lease. Most new flats in recent years have been built with a lease of at least 125 years. Therefore, if your flat lease is below 99 years, then you will either have to drop your asking price to ensure a quick sale, or otherwise extend the lease.

On the bright side, there are typically more people interested in buying a flat at any given time, compared with a detached house. This is because the average UK flat is cheaper than the average UK detached house – and put simply, there are more shoppers in the market for properties on the lower end of the market.

In a hot market, when your flat is priced correctly, it should take less than 90 days to be officially sold. In a cold market, when your flat is priced correctly, it will typically take 6 months.

Cottages

If your cottage is in the ‘middle of nowhere’ in the countryside, then it will take you longer to sell than if it is closer to a major town or city. This is because countryside cottages, a long way from masses of people, are harder to access, and naturally have a smaller pool of interested buyers than in a more populated area.

In a hot market, when your cottage is priced correctly, it should take less than 90 days to be officially sold. In a cold market, when your cottage is priced correctly, it will typically take 6 months.

Terraced Houses

Terraced houses are typically considered less ‘desirable’, compared with a semi-detached house. But this does not necessarily mean that they will take longer to sell. Most terraced houses, for example, retain heat extremely well and are more energy-efficient than semi-detached properties.

In a hot market, when your terraced house is priced correctly, it should take less than 90 days to be officially sold. In a cold market, when your terraced house is priced correctly, it will typically take 6 months.

Semi-Detached Houses

Semi-detached houses always share at least one wall with another property that is separately owned. These properties are seen as slightly more desirable than terraced houses, but slightly less so than detached houses – but of course, this can depend on what you are looking for from your property.

Fortunately, semi-detached houses are one of the most common property types in the UK, and there is rarely a shortage of people looking to purchase one.

In a hot market, when your semi-detached is priced correctly, it should take less than 90 days to be officially sold. In a cold market, when your semi-detached house is priced correctly, it will typically take 6 months.

Detached Houses

As a cash house buyer, here at WeBuyAnyHome, we buy properties in any condition. We don’t rely on mortgages or any third parties to

In a hot market, when your detached house is priced correctly, it should take less than 90 days for it to be officially sold. If it takes longer, then your estate agent isn’t doing their job properly.

In a cold market, when your detached property is priced correctly, it will typically take 6 months for your property to sell.

But whichever market you are operating in, if you price your detached house incorrectly then it may never sell at all.

How long should it take to sell your home? Well, it depends…

In a hot market, when your property is priced correctly, it should take less than 90 days for your property to be officially sold. If it takes longer, then your estate agent isn’t doing their job properly.

In a cold market, when your property is priced correctly, it will typically take 6 months for your property to sell. If you make a sale within 90 days during a cold market, then buy your estate agent a bottle of wine… they deserve it!

You must remember the importance of pricing your house appropriately. Potential buyers who visit your house are also visiting other properties. They will compare yours to other houses listed at the same price… and unfortunately, yours will come up short.

Save time and stress with WeBuyAnyHome

WeBuyAnyHome can sell your house fast and save you time and stress. In fact, we can complete in as little a 7 working days, regardless of what type of property you own or what type of market you are experiencing.

If you want to move home quickly and easily, fill in our enquiry form below and we will be in touch shortly.

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