New figures reveal Blackpool's property postcode lottery
New research has revealed how long it takes to sell a home in Blackpool.
The figures show that it takes an average of just over 15 weeks to sell a property in the Blackpool (FY) postcodes.
The local house market insights tool last analysed over 709 property sales across the region between May 2018 and May 2019.
The data, from professional house buying firm Property Solvers, tracks the moment a property is listed on the UK’s largest property portal Rightmove to the point it’s marked as officially ‘sold’ at the HM Land Registry.
In the FY6 postcode (Carleton, Poulton-le-Fylde, Hambleton, Knott End-on-Sea, Preesall, Singleton and Stalmine), out of the 69 tracked properties in the 12 months to May 2019, home sellers were waiting around 17 weeks to complete.
Properties were selling the fastest in postcodes starting with FY2, FY4 and FY5. The 359 homes in these areas took an average of 14 weeks to sell.
Property Solvers co-founder, Ruban Selvanayagam said: “Although there are some natural delays to be expected, it’s surprising that it takes so long for house sales to go through – especially in the digital age we live in.
“Whilst it’s true that the estate agency, conveyancing and mortgage industries continue to embrace the benefits of tech, much work needs to be done to overcome the friction across house sale chains.”
The full data for Blackpool can be seen here: https://www.propertysolvers.co.uk/regional-house-market-insights/data/Blackpool/