Is Now the Right Time to Sell Your Home?
According to a recent report from MoneyWeek (1), homes sold across the North of England are selling faster than comparable properties elsewhere in England and Wales.
Spring is traditionally regarded as the best time to put a house on the market, with the market coming out of a seasonal slowdown between Christmas and the New Year, and buyers moving to complete their purchases before the summer holidays.
Demand for property is currently strong across the UK, despite a slight reduction in the number of buyers approaching the market, according to the Royal Institution of Chartered Surveyors (RICS) (2).
There were 64,309 mortgage approvals during March 2025, which is 4.5% higher than 12 months ago (3).
Overall, the broad picture is that the demand for property is as healthy as you’d expect during the busy spring period, with the caveat that location and pricing are significant driving factors in driving behaviour.
The average amount of time a home spends on the market in England and Wales before an offer is made and the sale is agreed is 36 days.
However, there are significant regional differences in the average time it takes vendors to sell a home in 2025. For example, properties in Manchester can sell in as little as 19 days, while Westminster homes can take as long as 61 days to sell.
Despite a busy spring market driving property sales, data suggests that there is a clear ‘North-South divide’ across England and Wales, with homes in the North of England selling with the greatest speed.
Properties in the North West have sold exceptionally well during Q1 2025, with homes in Manchester selling within 19 days on average. Average sales times for Carlisle and Stockport were 20 and 22 days, respectively.
With homes within the local authorities of Manchester, Carlisle and Stockport selling more quickly than the majority of England and Wales, the North West is quickly becoming a hotbed of activity for the property market.
Across the entirety of the UK, homes in Scotland are also selling quickly, with homes spending an average of 21 days on the market before a sale is agreed.
Despite several challenges arising from changes to Stamp Duty Land Tax (SDLT), rental reform and volatility in the global economy, the UK property market is demonstrating high levels of resilience.
In terms of market activity, property transactions across the UK were up by 28.10% during February 2025 compared to the same period last year (Dataloft).
Additionally, the latest Halifax House Price Index (4) reported that house prices in April 2025 were 3.2% higher than the same month a year earlier.
This is the first time that average house prices have grown since January 2025, reversing a 0.5% drop in March.
Mortgage rates have fallen slowly during 2025, and the recent announcement from the Bank of England (BoE) that it has cut the Base Rate to 4.25% will likely fill buyers with further confidence.
If the UK property market is showing signs of strength, why are some properties selling more slowly than others?
Several factors could be contributing to properties in some regions selling more slowly than others.
The first consideration is price. The impact of the cost-of-living crisis continues to be felt, with energy bills, food bills and mortgage rates all remaining higher than in previous years.
This means that people have less money to spend on larger properties or home improvements.
As a result, we have seen that buyers are more cautious when buying a home and will look for more affordable properties that are in good condition.
We have seen that keenly priced two and three-bedroom homes in good condition are attracting high levels of interest, while more expensive properties are spending longer on the market.
With house prices in the North of England and Scotland generally being lower than in the South of England, vendors are having an easier time selling properties in these areas when compared to similar homes elsewhere.
A further factor impacting the housing market is an increase in stock, with some landlords choosing to exit the property market or divest portions of their portfolios.
This has driven greater competition amongst vendors, while buyers have more choice than they have had previously in recent years.
This is why it is now more important than ever that vendors work with a trusted estate agent to ensure that they give their property the best chance of selling.
As a trusted estate agency with over 40 years of industry experience, Edward Mellor offers fully integrated financial, planning, conveyancing, and surveying services under one roof.
We are experts in the buying and selling of property locally and will work with you to give your home the right valuation and develop a tailored marketing strategy to take your home from FOR SALE to SOLD.
If you are looking to sell a property, simply contact us using the link below to book a free property valuation today.
2 RICS UK Property Market Survey
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