Here's which Lancaster postcodes have the slowest and fastest selling homes
Latest data shows house sales have been taking an average of 119 days to complete across the Lancaster postcodes since the beginning of the pandemic.
Professional house buying firm Property Solvers’ speed of sale tool has revealed that it’s taking an average of 16.93 weeks to sell a property in the Lancaster (LA) postcodes.
Updated monthly, the latest dataset analysed more than 743 property sales across the region between March 2020 and March 2021.
The statistics track the moment a property is listed on the UK’s largest property portal Rightmove to the point it’s marked as officially ‘sold’ at the HM Land Registry.
In the LA8, LA12 and LA20 postcodes, out of the 37 tracked properties in the 12 months to April 2021, home sellers were waiting 154 days on average from listing to completion.
Sellers were waiting up to 174 days on average in the LA20 postcode.
Properties were selling the fastest in the LA4, LA17, LA22 and LA23 postcodes, where 86 homes in these areas took 84 days to sell on average.
Property Solvers co-founder Ruban Selvanayagam said: “Although buyer demand hasn’t waned over the course of the pandemic, the length of time for transactions to complete has certainly lengthened.”
“Operational activity has still pretty much continued, but the home sales industry – like many others – has had to learn to adapt over the last year.
"Many solicitors, mortgage brokers and other professionals in our sector have been working from home which has often resulted in administrative and other operational delays.
“However, with positive news around the vaccine roll-out, as more people gradually return to offices and agencies, we’re cautiously optimistic about things picking up over the course of the year.”
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