Glasgow property sales fastest in UK, study reveals

Data for properties across Scotland suggest the market is moving fast | Shutterstock

placeholder image — Data for properties across Scotland suggest the market is moving fast | Shutterstock

Property in Glasgow is selling three times faster than anywhere else in the UK – and nearly six times as fast as Britain’s slowest city, research has revealed.

Figures from property management software provider Alto, which is plugged into more than 6,000 estate agents nationwide, found from January 1 to June 11 this year, sales in the Scottish city are being agreed in as little as 11 days.

This far outstrips the pace of the rest of the UK, with the typical property in the UK taking around 30 days to secure an agreed offer. And it’s almost six times faster than Wakefield, which is the UK’s slowest property market.

The property management CRM provider, which commissioned the research, has created a free Speed of Sale Index tool showing homeowners how quickly properties sell in their area after entering their postcode.

Mark Adams, managing partner of G&S Properties in Glasgow, shared his opinion on why properties in Glasgow are in such high demand. He said: “In my opinion, the Glasgow market is strong due to a chronic undersupply of property at accessible price points and a surge in demand for both urban and rural living.

“If you are looking to sell, you should find a reputable, independent estate agent who will advise on setting an accurate, competitive asking price.

“They should guide you on presenting the property well with professional photography, including drone photography and video, to boost kerb appeal, increase viewings and negotiate a premium sale."

The Glasgow market is six times faster than that of Wakefield | Shutterstock

Across the country, flats are one of the hardest property-types to sell, taking an average of 39 days to agree a sale. Glasgow is defying the UK-wide trend at just 12 days. In fact, property types and agreed sales across the city are fairly consistent, with terraced and semi-detached both taking 12 days. Compared to the rest of the UK, that figure is both 26 days. Detached houses in Glasgow take 13 days to agree to a sale – again, far quicker than the 41 days for the rest of the country.

Data for properties across Scotland suggest the market is fast, with Lanarkshire and West Lothian also taking a median of 11 days to agree an offer, with Fife and Orkney close behind at 13. The Scottish Borders has the slowest typical market, with a 56-day median.

Riccardo Iannucci-Dawson, CEO of Alto, said: “We sit on one of the UK's biggest property datasets, and one number stood out: homes in Glasgow are typically agreed in just 11 days - the fastest anywhere in the country.

“The housing market is always fluctuating, and price points, stock levels, improving transport links, and chains all play a part - but what we're consistently seeing in Glasgow this year is agents who know their patch inside out and price a home right from day one.

“Where a home is priced for what local buyers will actually pay, it moves; and where it's priced for what the seller hoped for 18 months ago, it sits with flats being the clearest example of what happens when that slips.

“Wherever you're selling, the first fortnight on the market is the part that counts, so get the asking price right on day one rather than discounting your way there over three months."