Properties sell fastest in three Aberdeen postcodes
Other fast moving locations include Sutton, Cambridge and Bristol
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Monday 10 March 2014
Aberdeen is the UK’s hottest property hot spot with properties in parts of the city selling in an average of only nine days.
Properties are selling in an average of just nine days in AB22, with AB12 and AB32 taking second and third places, according to a report from Move with Us and Home.co.uk.
Other fast moving locations in the UK were in Sutton, Greater London where properties in the postcode SM5 are selling in 15 days, closely followed by CB1 (Cambridge) and BS7 (Bristol) at 16 and 18 days respectively.
The survey excluded properties valued at less than £20,000 and above £1 million.
Robin King, Director, Move with Us, said: "The postcodes in the top 20 highlight areas where there is a skilled workforce, indicating higher wages and subsequently a fast paced property market."
Bob Fraser, senior property partner at Scottish law firm Aberdein Considine, said: "Demand in the current market is predominantly in flats anywhere within a commutable distance of Aberdeen. The region attracts a large number of highly paid workers in the oil and gas industry. Due to high rental yields in the region, the higher level workers in the industry often buy property and lease it to the newcomers who are often on shorter contracts.”
"Over the last few years the top end of the market has been driving sales in the area with an increase in the number of four-six bedroom family homes being built which are marketed in excess of half a million pounds. These move in slightly slower timescales than flats. Now the market has returned to a more traditional model with lower end properties driving sales."
Britain's fastest selling postcodes
1. AB22 Aberdeen
2. AB12 Aberdeen
3. AB32 Aberdeen
4. SE2 London
5. CB1 Cambridge
6. SM5 Sutton
7. AB16 Aberdeen
8. SE17 London
9. BS7 Bristol
10. AB10 Aberdeen
11. BS3 Bristol
12. SL8 Slough
13. TW14 Twickenham
14. EC4 London
15. GU7 Surrey
16. SM3 Sutton
17. SM6 Sutton
18. TW2 Twickenham
19. AB21 Aberdeen
20. CB4 Cambridge
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