Despite the dual impact of the conflict in West Asia and higher mortgage rates, the average time to sell a home has increased by just one day year-on-year, Zoopla's data shows.
Homes are selling as fast as last year across more than half of UK regions, despite higher mortgage rates. Sellers in London face longer to find buyers, however.
The report finds that sales agreed are just 3% down on last year with a clear rebound in buyer enquiries after the Easter break, with those looking to move encouraged by a ceasefire and mortgage rates starting to drift lower. Zoopla’s house price index shows UK house price inflation is holding steady at 1.3%, compared to 1.8% a year ago, with the average price of a UK home sitting at £271,700.
Longer sales times in first time buyer markets in and around London
London, and its surrounding areas, is the region that stands out as being most impacted by recent events, with the average home taking almost a week longer to sell (6 days) in the capital as well as in more affordable commuter areas.
However, this isn’t a central London story. In fact, the biggest increases in time to sell have been registered in markets further out of the centre, which are more dependent on first-time buyers. In turn, these buyers are more sensitive to higher mortgage rates and already face much higher stamp duty costs than first-time buyers elsewhere in England.
Movers in the Harrow postal area face the longest sale time at 54 days - a 65% increase compared to just 33 days a year ago. South East London is up 34% to 43 days, East London up 29% to 36 days, with Uxbridge and Bromley both seeing increases of around 7 days. The same pattern extends into the wider commuter belt, with Dartford up 28% to 37 days, Peterborough up by a quarter (26%) to 48 days, and Slough up 18% to 46 days.
Mortgage rates are important but so are buying costs. Zoopla’s data shows that 4 in 5 first-time buyers in London pay stamp duty equivalent to 3% of the purchase price. This is in stark contrast to first-time buyers elsewhere in England where less than 1 in 10 pay stamp duty and at a much lower cost.
Fastest and slowest markets tell two very different stories
UK house price inflation is holding steady at 1.3% year-on-year, supported by enough transactions completing to keep prices stable nationally. The North-South divide in both sales speed and price growth is likely to persist through 2026.
Across the rest of the country, time to sell is broadly tracking last year. Scotland remains the fastest market in the UK at just 15 days, unchanged from last year. Northern regions of England are all within a day or two of last year's pace, with fewer homes for sale than a year ago creating scarcity that is supporting both sales speed and price growth.
House price growth reflects this divide. The North East is the strongest performing region in Great Britain, seeing a 3.2% increase year-on-year, followed by the North West at 3.1% and Scotland at 2.6%, while Northern Ireland continues to lead the UK at 6.7%. Within these regions, cities like Liverpool are seeing some of the strongest price growth in the country (4.5%), followed by Manchester and Newcastle, which both see annual increases of 3%.
However, the South tells the opposite story. London and the South East are both seeing prices fall marginally at -0.2%, with the South West barely in positive territory at 0.1%. Within these regions, cities including Bournemouth at -1.7%, Cambridge at -0.9% and Brighton at -1.1% are among the weakest performing markets.
Richard Donnell, executive director at Zoopla, said: “Homes are taking just one day longer to sell than this time last year. That is a strong result given increased uncertainty and mortgage rates rising sharply in March. Buyer enquiries have rebounded after Easter and with mortgage rates starting to fall, we expect the market to remain active through the rest of the year. Households who need to move are getting on with it though market conditions vary widely between North and South.
For sellers, the message is clear - well-priced homes are still finding buyers in the same time as last year across much of the country. For buyers, mortgage rates are drifting lower and there is greater choice of homes for sale. The best-value homes are moving quickly, particularly in northern cities and Scotland whereas the room for negotiation is greater across southern regions.”
