Britons selling a property will want to make sure they get the best price while selling within a reasonable amount of time.
Data has shown the UK cities where homes are most likely to sell based on the volume of properties sold between December 2022 and December 2023.
Despite having the most expensive properties, more houses were sold in London than anywhere else in England, according to analysis by full service estate agents Yopa.
The research found nearly 50,000 London homes were sold during the 12 months period, which made up nearly 50 per cent of all home sales in England last year.
House in London have the highest prices
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Cities where most homes sold in 2023
London – 48,378 transactions
Manchester – 19,699 transactions
Leeds – 6,183 transactions
Birmingham – 5,875 transactions
Bradford – 4,022 transactions
Sheffield – 3,901 transactions
Bristol – 3,775 transactions
Liverpool – 3,083 transactions
Newcastle – 2,113 transactions
Leicester – 1,454 transactions
While there is no way to guarantee a home will sell quickly, those listing in London might have the best luck.
Property prices in the capital decreased the most during that time period, dropping 4.8 per cent, but they were still the highest in England.
The HMLR House Price Index found London homes sold for an average of £508,037 by December 2023. This is more than £140,000 above the average house price in the second most expensive location, Bristol (£363,799).
Average house prices in English cities December 2023
London – £508,037
Bristol – £363,799
Leeds – £241,328
Leicester – £234,997
Manchester – £231,754
Birmingham – £228,877
Sheffield – £212,356
Liverpool – £174,603
Bradford – £173,726
CEO of Yopa Verona Frankish commented: “We’ve seen higher interest rates dampen the purchasing power of the nation’s homebuyers over the last year and this has naturally led to a reduction in house prices, particularly across major regional cities where homes command the highest price tags.
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Research shows more homes sell in London than elsewhere in England
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“With London homes having the highest house prices in the nation, it’s no surprise that cooling market conditions have seen the average London house price fall by the greatest margin.
“However, topline house price performance doesn’t necessarily reflect the overall health of the market and while London may have seen the most significant correction in house prices, it remains by far the busiest major city where actual buyer activity levels are concerned.”
This comes as the most affordable place to buy in the UK was shared and is a spot with “beautiful open spaces” and houses for £103,000.
