New research by online agent House Network has revealed that London is the hardest place to sell in the UK.
Of the top 10 slowest-selling postcodes, six are to be found within the M25, while the capital is home to all three areas that are the hardest to sell property in.
Sellers in London are faced with a much harder task than their counterparts in the North of England. There, homes go after an average of just 11 viewings. In the capital, it goes up to an average of 16 viewings per sale.
Life as a seller is best in Carlisle, with homes in the Cumbrian city being viewed only six times before they are purchased. Sellers in Glasgow, Perth and Wrexham are not far behind (all averaging seven viewings per sale).
By contrast, London’s W postcode is one of the hardest places to sell. This area includes the very affluent, exclusive districts of Mayfair and Kensington, where the average price of a house is over £3m. As a result, homes need an average of 20 viewings before they are sold. Vendors in Wembley and Ilford, too, have considerable trouble shifting their properties, with 22 and 23 viewings per sale respectively.
Not all of London suffers from the curse of slow selling, though. In Enfield, for example, properties are viewed just 12 times before completion.
“What’s clear from our research is just how relatively simple it is to sell your house, even in London where vendors have to work that bit harder to take those ‘For Sale’ signs down,” Mark Readings, CEO of House Network, said.
“When you place this into the context that selling a house is almost certainly the biggest sale we make in our lives, 15 viewings is no time at all.”
He added: “The North/South divide in the property market is well documented, but it’s interesting to see that it also rings true with how many viewings per sale and not just price.”