Property in Sunderland and South Shields among the hardest to sell

Sunderland and South Shields houses hardest to sell.
Sunderland and South Shields houses hardest to sell.
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Homeowners in Sunderland and South Shields are finding it the hardest to sell their properties.

Latest research shows both areas are in the top ten of the worst places for selling property.

Homes up for sale.

Homes up for sale.

On average it took 277 days on the market for a Wearside home to sell and 264 days for a house in South Shields.

Research by Quick Move Now found Rotherham was the hardest place to sell property with an average of 279 days on the market.

Others in the ten worst places for selling included Knightsbridge, Mayfair, North Shields and Marylebone.

The organisation said 2018 has been a challenging year for the UK property market so far and whilst some areas of the country have been able to maintain positive and buoyant conditions, others have continued to feel the impact of market uncertainty brought about by political turbulence and economic challenges.

They found how positive homeowners feel about the property market will depend largely on which area of the country they live in.

With average time on market currently ranging from as little as 87 days in the most buoyant markets, to more than nine months in more challenging areas.

Quick Move teamed up with home.co.uk to come up with the ten best and worst places to sell property in England and Wales.

The easiest place to sell property was Rainham in Kent where the homes spend an average of 87 days on the market.

Other top places were, Bristol, Swindon, Northampton, Coventry and Basingstoke.

Quick Move Now’s Managing Director, Danny Luke, said: "As we can see from the data, the property market varies hugely throughout England and Wales, from an average time on market of 87 days in Rainham, right up to an average of 279 days – more than nine months – in Rotherham.

"These figures also do not take into account conveyancing time, which takes an average of eight to twelve weeks. This means, in reality, it takes homeowners in Rotherham, on average, more than a year to sell their property.

"Unfortunately, more than one in five of those sales is then likely to fall through before successful completion, meaning the homeowner will be required to start the whole process all over again.”

“Historically, there has generally been a clear north-south divide between the best and worst places to sell, however, with six of the ten worst places to sell being within Greater London, and the remaining four being in Tyne and Wear and South Yorkshire, that divide seems to be a thing of the past. Even London’s once seemingly untouchable market is suffering."

Research by HomeOwners Alliance suggests that if a property remains on the market for three months, homeowners could expect to receive an average of £13,603 below their asking price.