Manchester and London host some of the fastest moving properties

Research on the UK properties conducted by 'Compare The Market' found certain UK locations have the fastest moving properties. Canterbury was on the top of the list with a price 6 per cent higher than the average of the remaining market in terms of fastest-selling property. 

The report suggests the property is posted for sale for approximately 28 days ( on average) in Canterbury, while the expensive London property stays for an average of 89 days before the sale. However, the process is still faster compared to cities Cardiff and Hull. 

Leading locations in the UK where the property is sold fast include Canterbury, Southampton, Bristol, Manchester, and Nottingham. For example, in Southampton, property sells in 40 days (average). In Manchester, one can get some of the lowest-priced properties and the shortest resale time of 2.2 years, with the highest returns.

Buying and selling properties involve a long search for the property of choice, bargaining, surveys, agents, mortgage, and renovations, and it can take months to move to a new location. 

Asking Price of UK Properties Hit a New High in June

According to the latest Rightmove report, the asking price of some newly listed properties in the UK in June was high. The asking price of property rose by 0.4 per cent (in June 2018) as the buyer demand was high in the North, where housing stock dropped in the month; alternatively, in the South, the stock remained high. 

In the Southern regions, some areas are seller's markets, but, in contrast, the stock is high in the Southern region. 

The South East prices were higher on a month-on-month basis by 0.1 per cent; year-on-year, the prices jumped 1.2 per cent. 

The RICS report states the price edged up from a five-and-a-half-year low in May 2018, and there are signs of property sales, but this is too early to speak about the trends. 

RICS Says Low Inventory

The report finds the new properties are showing uptrends after 27 months. The RICS report also pointed out that the inventory levels remain at a record low during this time.

The High-Yielding Properties In The UK

Post-Brexit, the housing sector is in the doldrums, and the investors are uncertain of future trends. However, the RICS survey found that interest in buying property increased in the past few months as the prices were unusually low.

Gocomapre Reports on The High Yielding Property

As per Gocomapre reports - Manchester, Leicester, and Cardiff were in the top cities in ensuring higher yield from the property at the rate of 5.5 per cent. London rents are high compared to other cities, but the property price is also very high. Cities with higher rental income include London, Manchester, Nottingham, and Liverpool.  

Belfast was considered the worst for renting, where the property prices are very low, and the annual yield from the property is expected to be around 3.77 per cent. 

Manchester came in the top position for being the best city for owning property in terms of property rates and earnings from the investment. Stoke is another city where property prices are low.

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