News

What’s the magic number when it comes to bedrooms?

According to new data from estate agent comparison site, GetAgent.co.uk, the estate agent comparison site, three really is the magic number when it comes to the number of bedrooms in a property, closely followed by two bedrooms. The report looks at the number of bedrooms in a property and how quickly each threshold takes to sell in the current market conditions.

They’ve successfully produced a comprehensive record of what is selling, where, for how much and how long it’s taking, by pulling data from the major business portals which they then cross-reference with the Land Registry.

It’s revealed that the best bet for home owners to compete with slow sales and Brexit uncertainty is to be placing a three bedroomed property on the market. So far to date this year, three-beds are taking an average 122 days to sell across the UK, the quickest of the lot, with two-beds close behind at an average of 126 days.

Founder and CEO of GetAgent.co.uk, Colby Short, commented:

“Three-bed homes are hot property in current market conditions and as a result, even in London.

A three-bed is typically the first family foot on the ladder for growing families and often the last time a buyer will upsize for the long-term, if not completely.

That’s why they’re consistently in high demand but there is a real lack of suitable stock currently on the market, as well as an insufficient level being delivered by house-builders to meet this demand.

As a result, three-bed homes are bucking wider market trends to sell much faster than the rest and will continue to do so.”

The third most popular option for home buyers are four-bed properties, taking an average of 141 days, with one-beds (150 days) and finally five-beds (173 days).

However, owning a three-bed in Scotland – if you really want to sell quickly – is the dream scenario with Lanarkshire the quickest of the lot with an average selling time of 55 days.

Outside of Scotland, Mansfield is the quickest with an average selling time of 72 days, followed by Ashfield (73 days) and Salford (73 days).

Three-beds are also the quickest to sell in the capital with an average selling time of 148 days, with Bexley the quickest at 98 days, followed by Sutton (100 days), Waltham Forest (103 days), Barking and Dagenham (108 days).

Please get in touch with us if you have any questions or would like any further information on our full range of services.