BELFAST is the fastest moving property market in the UK according to the latest research.
New analysis from online estate agents HouseSimple shows that Belfast has the lowest percentage of properties still on the market after six months or more out of 50 major UK towns and cities.
Less than 2 per cent of property listings in Belfast were at least six months old when surveyed, ahead of nearests rivals Northampton (3 per cent) and Reading (3.6 per cent).
By contrast almost 30 per cent (28.5 per cent) of properties currently for sale in Sunderland in the north east of England, have been on the market for six months or more, while one in seven properties have been on the market for at least a year.
HouseSimple.com looked at the number of property listings in 50 major UK towns and cities, and the percentage of those listings that were at least six and 12 months old. The figures revealed that 12.5 per cent of property listings UK-wide were at least six months old, and the five slowest moving property markets were all in the north of England, with three of the five in the north east. There wasn’t a single city in the south of the country that appeared in the list of the 10 slowest UK property markets.
CEO of HouseSimple.com, Alex Gosling said Brexit was "definitely" playing a part in the UK housing market.
"In any market, but especially in the current climate of uncertainty, sellers need to price sensibly if they want to attract buyers. That doesn’t mean discounting heavily, but if you price too high for the area your home won’t sell even if it’s an exceptional property."
