A new study reveals the hardest cities in the UK to sell properties, with Aberdeen topping the list.
The research by Property Buyers Today analysed property data from Rightmove across the 80 largest cities in the UK to determine which locations have the highest proportion of properties listed for over 36 days.
According to Zoopla, 36 days is the average length of time properties spend on the market in England and Wales.
Aberdeen is the hardest city in the UK to sell property in, with 61.3% of properties being on the market for over 36 days. Out of the total of 488 properties for sale in the city, 299 have been listed for over 36 days. This relatively small number of listings compared with major cities suggests a demand issue rather than an oversupply issue.
Salford is in second place, with 60.4% of properties listed for over 36 days on Rightmove. Of the 1,890 properties listed in Salford, 1,142 have been on the market for more than 36 days. The area has had major regeneration, particularly in apartment developments, which may be producing a large volume of similar properties competing at the same time.
Peterborough is third, with 58.8% (1,071) of property listings being older than 36 days out of 1,820 in total. The city has seen significant housing growth over recent decades, which may mean buyers have plenty of options.
London takes fourth spot, with 58.6% of properties being on the market for over 36 days. Out of 61,050 properties on the market in the city, 35,753 have been listed for more than 36 days. The high price of London properties may be contributing to slower sales, especially when buyers have far more choice than in other housing markets.
Preston rounds out the UK’s top five hardest cities to sell property in, with 57.7% of properties being unsold after 36 days. In total, there are 711 property listings in the city, with 410 remaining on the market after the time frame. Due to the lower number of listings, the issue might fall to weaker demand, which may benefit from pricing adjustments.
Glasgow is the easiest city in the UK to sell property in, with just 31.3% of properties unsold after 36 days on Rightmove. The city has a competitive property market that moves quickly, due to good affordability and developments, such as the Clyde Gateway Innovation District.
Edinburgh is next, with 40.6% of properties still listed after 36 days, which is nearly 20 percentage points less than London’s rate. High-value homes in the Scottish capital continue to attract buyers, in areas such as the West End, Stockbridge and Dean Village.
In third place is Basingstoke, with 41% of properties being on the market after 36 days. The demand is keeping pace with supply, with commuting opportunities and relative affordability compared to the rest of Hampshire, making the area attractive for buyers.
Swindon ranks fourth, with 42% of properties remaining on the market after 36 days. Like Basingstoke, Swindon’s housing market benefits from good commuter links and affordability compared to nearby cities Bath and Oxford.
Closely following in fifth place is Bristol, with 42.6% of property listings older than 36 days. With by far the most listings in the top 10, the city has a fast-moving market with strong demand and supply, driven by good employment opportunities and lifestyle appeal.
Founder of Property Buyers Today Saif Derzi:“The findings suggest that each city’s supply and demand dynamics are more important than size or reputation. Cities with a better balance between available listings and consistent interest maintain a steady and faster-moving market.”