Million pound plus homes selling fastest in Cambridge

Million pound plus homes selling fastest in Cambridge

Rightmove reports “Homes worth £1 million or more have shifted most quickly in Cambridge in 2018, taking only 45 days on average to secure a buyer – twice as fast as the national average.  The top five fastest selling million pound locations are all outside of London: Edinburgh and Harpenden are in joint second place taking 53 days each, followed by Bristol at 54 days.

The average time it takes to secure a buyer in the million pound plus market has increased by five days compared to last year, now taking an average of 99 days.  In four out of 11 regions the time to secure a buyer for a million pound home has sped up: Scotland, East Midlands, North East and the North West are all selling these homes quicker than in 2017. 

The million pound market has sped up most in Beaconsfield in Buckinghamshire over the past year, with homes taking only 66 days to secure a buyer, compared to 112 days in 2017 New analysis by the UK’s number one property website Rightmove reveals that the million pound plus market is most active in Cambridge, with homes on the market for £1 million or more selling twice as fast as the national average.

The national average time to agree a sale to a buyer in this price bracket is 99 days, up from 94 days last year. In Cambridge this drops to only 45 days. The average time it takes an agent to strike a deal for a property usually increases the higher up the ladder or price bracket you go. For example, homes worth £300,000 or under take an average of just under two months (58 days) to find a buyer, while this new analysis shows that property millionaires can be waiting over three months, based on the properties that do actually sell.”  Read the full article here  

 

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