Fascinating data has revealed hotspots where houses are selling the quickest across the greater Reading area.
And the data shows on average across the region, transactions are taking an average of 124.87 days to complete.
Some of the quickest areas to sell a property at the moment include Hook in Hampshire (RG29), Tadley (RG26), and Thatcham (RG18).
Professional house-buying firm Property Solvers’ has revealed that it’s taking an average of 17.84 weeks to sell a property across Reading.
As shown in the table below, properties were selling the fastest in Hook (RG29), Tadley (RG26) and Thatcham (RG18) adopting a minimum number of 10 property sales in a given area.
In the top 10 areas, Property Solvers revealed that homes took 116.40 days (16.63 weeks) to sell on average.
Reading's Fastest Areas to Sell a Property (February 2023 to February 2024)
Area
Postcode
Average No. of Days to Sell
No. of Properties
Hook
RG29
111
15
Tadley
RG26
112
45
Thatcham
RG18
115
28
Henley-On-Thames
RG9
115
38
Hook
RG27
117
40
Reading
RG1
118
49
Reading
RG31
118
47
Reading
RG5
119
62
Reading
RG6
119
69
Basingstoke
RG21
120
55
Homes were selling the slowest in the Thatcham (RG19), Newbury (RG14) and Whitchurch (RG28) postcodes (also sampling a minimum data set of 10 property sales). In the bottom 10 postcodes, the data showed that properties were taking 133.90 days (19.13 weeks) to sell on average.
Reading's Slowest Areas to Sell a Property (February 2023 to February 2024)
Area
Postcode
Average No. of Days to Sell
No. of Properties
Thatcham
RG19
142
42
Newbury
RG14
140
63
Whitchurch
RG28
140
13
Basingstoke
RG25
138
16
Bracknell
RG12
132
138
Wokingham
RG41
132
78
Hungerford
RG17
131
14
Reading
RG2
129
35
Reading
RG4
128
131
Bracknell
RG42
127
73
Updated monthly, the latest dataset analysed over 1,553 property sales across the region between February 2023 and February 2024.
The statistics track the moment a property is listed on the UK’s leading property portals to the point it’s marked as officially ‘sold’ at the HM Land Registry.
Ruban Selvanayagam of Property Solvers commented: “whilst we’re starting to see some noticeable improvements into 2024, the continued pressures on the mortgage sector and buyers' ability to secure the right kind of finance has resulted in delays with sales completing”.
The co-founder of the Reading sell house fast company concludes: “combined with the recognised ‘snail pace’ nature of the conveyancing process, it’s likely that these trends are likely to remain for some time.”
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