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TODAY'S OTHER NEWS

Firm claims tenanted buy to lets get ‘sale agreed’ in just 38 days

An online agency specialising in the sale of investment properties with tenants in situ claims the average time for a tenanted home to sell is just 38 days. 

Yieldit, which handles the sale of completed and tenanted investment property, has analysed the six months to December 31 and found that it has an average sale time of 38 days.

The data, which analyses the time taken between a property being listed and an offer being accepted, is notably lower than comparable data from leading property portal Rightmove and Post Office Money.

According to yieldit's data, its student properties have an average sale time of 46 days, whilst residential properties usually have a sale agreed within just 33 days. 

This equates to half of all properties being sold in under a month, with 57 per cent of residential listings selling in under a month, whilst 38 per cent of student pads were snapped up in 31 days or less.

The research indicates a much faster sale time than that reported in the latest Post Office Money City Rate of Sale report which says it takes, on average, 102 days to sell a property in the UK. 

Rightmove has reported an average sale time of 66 days between November 2017 and November 2018.

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