Three-bed homes in Scotland are ‘golden ticket’ for quick sale

Owning a three-bedroomed house in Scotland is the “golden ticket” for a quick sale, figures released today have revealed.

The nine “quickest” areas for three-bedroom property sales in the UK are all located in Scotland.

Lanarkshire is the quickest of the lot, with an average selling time of 55 days.

The latest data from estate agent comparison site Get-Agent.co.uk has found three is the magic number when it comes to the number of bedrooms in a property and the time it is taking to sell in existing market conditions.

Three bed properties sell fastest of all.

GetAgent.co.uk pulls data from all of the major portals, which it then cross-references with the Land Registry using proprietary algorithms to create a comprehensive record of what is selling, where, for how much and how long sales are taking.

So far this year, “three-beds” are taking an average of 122 days to sell across the UK – the fastest of the lot – with two-bedroom properties close behind at an average of 126 days.

Four-bedroom properties are the next most popular option for home buyers, taking an average of 141 days.

One-beds take 150 days to sell, while five-bedroom properties are on the market the longest of all at 173 days.

Other fast-selling areas for three-bedroomed houses, all in Scotland, are West Lothian (58 days), East Renfrewshire (58 days), Glasgow (60 days), Edinburgh (67 days) and Midlothian (71 days).

This compares with 151 days in upmarket Richmond-upon-Thames, Surrey, and 302 days in London’s Westminster.

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

Founder and chief executive of GetAgent.co.uk, Colby Short, said: “Three-bed homes are hot property in current market conditions and as a result, those with one to sell can expect a quicker transaction than others in the market, 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 housebuilders 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 Scottish property market has defied some of the gloom surrounding Brexit, soaring to an 11-year high as transactions worth more than £8 billion were recorded between January and June this year, the best for this six-month period since 2008, according to Aberdein Considine’s quarterly property monitor.