New data released by professional house buying firm Property Solvers has unveiled the contrasting paces of Harrow’s property market, shedding light on the fastest and slowest areas for house sales over the past year.
According to the latest figures, the average time for house sale transactions to complete across Harrow’s (HA) postcodes stands at 119.00 days. Property Solvers’ speed of sale tool, which is updated monthly, analysed 331 property sales from October 2022 to October 2023, tracking the period from listing on leading property portals to the official ‘sold’ status at the HM Land Registry.
Among the quickest areas to sell a property were the HA0 (Wembley), HA3 (Harrow), and HA1 (Harrow) postcodes. In these areas, homes were sold in an average of 17.00 weeks.
Wembley (HA0), Harrow (HA3), and Harrow (HA1) emerged as the top performers, each witnessing a minimum of 20 property sales. The data also revealed that within the top 10 areas, properties took an average of 120.78 days (17.25 weeks) to sell.
On the flip side, the slowest house sales were recorded in the Stanmore (HA7), Edgware (HA8), and Northwood (HA6) postcodes. Similar to the faster areas, a minimum of 20 property sales were considered for these statistics.
In the bottom 10 postcodes, homes were also taking an average of 120.78 days (17.25 weeks) to sell, indicating a stark contrast to the brisk sales in other parts of Harrow.
Ruban Selvanayagam of Property Solvers commented: “The property market is certainly in a different place relative to a couple of years ago. 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 Harrow 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.”
These findings highlight the diverse nature of Harrow’s property market, where the pace of transactions can significantly vary depending on the location.
Prospective buyers and sellers are encouraged to consider these trends carefully, ensuring they are well-informed about the specific market conditions in their desired area.