New Report Reveals West London is Best for Speedy Property Sales

by Steph Rady

Our data shows that homes in Paddington are selling faster than anywhere else in the UK and three weeks faster than the national average.

The report suggests that property transactions in Paddington, West London take on average 198 days to complete which is 21 days quicker than the UK average.

In a close second, homes in Halifax, West Yorkshire, are currently selling within 199 days.

In Sutton, Surrey they are selling within 201 days.

The next quickest place to move is Huddersfield where deals are completed within 203 days.

The fifth fastest spot is Oxford where sales happen within 204 days.

Data indicates that it takes an average 220 days to sell a home comprising 23 days “pre-consideration” period, 62 days on the market and around 135 days to complete finance, conveyancing and legal checks.

While there are many factors that play into this equation, including buyer demand and the time it takes for conveyancing / finances (which will differ area to area), agents can give themselves the best chance of a speedy and successful sale by responding faster to enquiries.

From this data, we know that the average consideration period from the point of requesting an online valuation, to instructing the agent is 23 days. Therefore, speed to lead is key, not only for a faster sale, but to ensure you’re the chosen agent to sell with.

Commenting on the data, Craig Vile, the Director of The ValPal Network, said: “For anyone involved in a property transaction one of the most frustrating things to deal with, at any point in a chain, are delays.

“That’s why it’s interesting to see that many areas of the country are managing to complete sales faster than others.

“Speed to lead is key. But this starts right at the moment someone requests a valuation. Agents who can offer a speedier and faster service will find themselves a far more attractive proposition to those looking for help and support in moving.”

To help support agents to do this, we have now developed an innovative new feature, called Connect, to provide agents with instant access to sales leads.

The tech means the moment a would-be seller visits an agent’s website and requests a valuation, Connect automatically calls the office and asks the team if they would like to contact the vendor.

It allows estate agency staff to be in touch just seconds after the valuation request has been made.

Craig added: “Our research has revealed speed is vital when it comes to converting sales leads into instructions. Responding within the first minute of a lead being generated increases the chances of conversion by 391%. We found a response within 5 minutes is still 21 times more effective than taking action after 30 minutes. But after that 5 minute window, the odds of qualifying a lead drop by 80%.

“In a world where we increasingly demand an instant response and same-day delivery, speed to lead really has never been more important to give agents the best chance in a competitive market.”

To find out more details of how The ValPal Network can help create quicker property transactions for clients visit: https://www.valpal.co.uk/services-connect

You can see the full data insights page on The ValPal Network’s website.