Newcastle is the quickest paced property market, whereas it takes almost twice as lengthy to go below provide in Blackpool
Within the newest version of the OnTheMarket Beneath Provide Index, we see the place UK properties obtained a suggestion the quickest, and the place it took longest to succeed in a suitable provide.
Our Beneath Provide Index reveals properties in Newcastle upon Tyne had been, on common, faster to generate a suitable provide than wherever else within the nation. The common time from a property first coming into the market to a suggestion being accepted or offered topic to contract (SSTC) – is 40 days within the three months from December 2024 to February 2025. Greater than half (56%) of houses in Newcastle take simply 30 days to have a suggestion accepted.
| Rank | Location | Common transaction time (days) |
| 1 | Newcastle upon Tyne | 40 |
| 2 | Bristol | 42 |
| 3 | Plymouth | 43 |
| 4 | Sunderland | 43 |
| 5 | Crawley | 44 |
Newcastle strikes up 5 locations from the identical interval final 12 months (Dec 2023 – Feb 2024) knocking Plymouth off the highest spot. The south-western metropolis is now the third quickest location to go below provide within the rating (taking 43 days). Notably, common transaction occasions have slowed prior to now 12 months, as Plymouth took simply 36 days to go below provide final 12 months, with second-placed Wigan taking simply 37 days. This time round no area had a mean turnaround time of lower than 40 days.
Bristol comes a detailed second to Newcastle this time round – having moved up 16 locations from final 12 months – with houses taking over common 42 days to go below provide, in contrast with 45 days 12 months in the past. Plymouth and Sunderland (each 43 days) and Crawley (44 days) full the highest 5 quickest areas for a suitable provide to be obtained.
In the meantime, the seaside resort city of Blackpool was the slowest gross sales market in our survey, in step with final 12 months’s bottom-of-the-table rating. Distributors took on common 74 days, almost two-and-a-half months, to just accept a suggestion, even longer than the 69 days it took final 12 months. With second-from-bottom Blackburn taking 61 days to go below provide, Blackpool distributors are taking 15 days longer to succeed in the identical stage within the shopping for course of. Lower than 1 / 4 of Blackpool houses (23%) went below provide inside 30 days.
| Rank | Location | Averange transaction time (days) |
| 1 | Blackpool | 74 |
| 2 | Blackburn | 61 |
| 3 | Slough | 60 |
| 4 | London | 59 |
| 5 | Brighton | 59 |
Slough (60 days) and London and Brighton (each 59 days) full the highest 5 slowest areas to go below provide.
In London, Havering was the quickest London borough, taking 44 days to go below provide, whereas the slowest borough, the Metropolis of Westminster, took almost twice as lengthy, at 79 days. Final 12 months’s index noticed Bexley high the desk because the quickest London borough, taking a mean of 43 days, whereas the slowest was the Metropolis of London, the place it took a far longer 83 days.
| Ranks | Location | Common transaction time (days) |
| 1 | Havering | 44 |
| 2 | Bexley | 47 |
| 3 | Waltham Forest | 49 |
| 4 | Barking and Dagenham | 51 |
| 5 | Sutton | 51 |
Bexley (47 days to go below provide), Waltham Forest (49 days) and Barking and Dagenham and Sutton (each 51 days) full our high 5 quickest London boroughs on the gross sales entrance.
| Rank | Location | Common transaction time (days) |
| 1 | Metropolis of Westminster | 79 |
| 2 | Lambeth | 74 |
| 3 | Hammersmith and Fulham | 72 |
| 4 | Richmond upon Thames | 72 |
| 5 | Wandsworth | 71 |
On the different finish of the desk, Lambeth (74 days), Hammersmith and Fulham and Richmond upon Thames (each 72 days), and Wandsworth (71 days), full the highest 5 slowest London boroughs to go below provide.
Jason Tebb, president of OnTheMarket, says: “It’s not simple to determine geographical traits from our under-offer knowledge, suggesting that transaction pace is essentially all the way down to native housing markets. A variety of components affect the pace by which it takes to go below provide, together with demand and competitors amongst patrons, inventory ranges, pricing and affordability.
“The Newcastle property market could also be shifting briskly however that’s no consolation to sellers in Blackpool the place the tempo is significantly slower.
“Nonetheless, distributors and patrons might help pace up the method in the event that they want to proceed extra shortly, notably if they’re in an space which appears particularly gradual. A superb native agent with loads of expertise is a superb place to begin, guaranteeing properties are priced sensibly earlier than hitting the market and that patrons are certified, severe prospects. Each side ought to get all their paperwork so as and interact a superb solicitor prepared to reply to any enquiries in a well timed method.”
Aldershot is the quickest shifting marketplace for leases, whereas Liverpool lags
There are tentative indicators that the rental market, which has been booming for such a very long time, could also be slowing in some areas. Potential tenants in Aldershot have to maneuver the quickest, as a property is let inside 16 days, on common, of being marketed between Dec 2024 – Feb 2025. Nonetheless, over the identical interval a 12 months in the past, Mansfield tenants had solely 12 days by which to do the identical. Certainly, all the high 5 rental hotspots a 12 months in the past – Mansfield, Crawley, Cambridge, Derby and Luton – took 16 days or much less to discover a tenant. This time round, the highest 5 took longer than that, with Mansfield taking 17 days, Crawley (18 days), Worthing (21 days) and Basildon (22 days).
| Rank | Location | Common transaction time (days) |
| 1 | Aldershot | 16 |
| 2 | Mansfield | 17 |
| 3 | Crawley | 18 |
| 4 | Worthing | 21 |
| 5 | Basildon | 22 |
On the different finish of the spectrum, Liverpool tenants have a way more leisurely 40 days to make up their minds. In Oxford, Nottingham and Sheffield they took 38 days, and 37 days in Newcastle upon Tyne.
| Rank | Location | Common transaction time (days) |
| 1 | Liverpool | 40 |
| 2 | Oxford | 38 |
| 3 | Nottingham | 38 |
| 4 | Sheffield | 38 |
| 5 | Newcastle upon Tyne | 37 |
In London, Bexley is the quickest place to safe a rental property, taking a mean of 20 days to hire, the quickest throughout the town. It was additionally high of the London desk final 12 months, taking 19 days for a property to let.
| Rank | Location | Common transaction time (days) |
| 1 | Bexley | 20 |
| 2 | Merton | 22 |
| 3 | Wandsworth | 22 |
| 4 | Waltham Forest | 23 |
| 5 | Islington | 23 |
In the meantime, on the different finish of the size, the slowest London borough for lettings was Kensington & Chelsea the place it takes 37 days, or almost twice so long as in Bexley, to hire a property. This was additionally the case final 12 months the place Kensington & Chelsea was the slowest London borough. Metropolis of Westminster (34 days), Barnet (33 days), and Hounslow and Harrow (each 32 days) full the slowest 5 boroughs. Final 12 months, the respective occasions had been 36, 31, 29, 29 and 28 days suggesting stress on tenants could also be easing.
| Rank | Location | Common transaction time (days) |
| 1 | Kensington and Chelsea | 37 |
| 2 | Metropolis of Westminster | 34 |
| 3 | Barnet | 33 |
| 4 | Hounslow | 32 |
| 5 | Harrow | 32 |
Jason Tebb feedback: “The rental market continues to be proving to be extremely aggressive in sure areas, with some tenants having to make extraordinarily quick choices.
“Nonetheless, some native markets are a lot ‘hotter’ than others, underlining the significance of actually understanding the market you are attempting to hire in. An skilled native agent will be capable of assist with that information, helping you along with your technique and guaranteeing you don’t miss out.
“Tenants would do effectively to get to know their native brokers and get them on facet, notably in fast-moving rental markets. This could get you to the entrance of the queue when an acceptable property turns into accessible.”
