As a local estate agent in Bury St Edmunds, Coakley & Theaker is closely monitoring the recent trend in the UK property market: the average time to sell a home has now exceeded 200 days for the first time, reaching 205 days.
This figure encompasses approximately 80 days from instructing an agent to achieving Sold Subject to Contract (SSTC), followed by an additional 125 days from SSTC to completion.
While this is a national average, regional differences are notable. Inner London and the South-East experience the longest selling periods, averaging 222 days, with outer London close behind at 221 days. In contrast, the North-East performs better in England and Wales, with an average of 177 days, and Scotland records the shortest time at 145 days.
Factors Influencing Extended Selling Times
Several factors contribute to these extended timelines:
● Pricing Strategies: Properties that undergo price reductions are 20% less likely to sell and take three times longer to do so.
● Legal Preparations: Delays often occur when sellers wait for an offer before organizing key documents, such as EPC certificates and Fixtures & Fittings forms.
Tips for Sellers in Bury St Edmunds
To navigate this challenging market, consider the following strategies:
● Accurate Pricing: Set a realistic asking price from the outset. Avoid pricing just below key thresholds (e.g., £500,000 instead of £499,950) as buyers often search at exact price points.
● High-Quality Marketing: Utilize professional photography and consider including a video or virtual tour. Properties with such features receive 6% more enquiries.
● Compelling Descriptions: Craft property descriptions that highlight unique features or personal stories to engage potential buyers.
● Legal Readiness: Prepare all necessary legal documents in advance to expedite the process once an offer is received.
● First Impressions Matter: Ensure your home is clean, smells fresh, and is well-presented to make a positive impact during viewings.
● Home Staging: Consider staging your home to enhance its appeal. Staged properties typically sell for 8% more.
Selling a home in the current market requires careful planning and execution. By implementing these strategies, you can improve your chances of a successful sale. If you need personalised advice or assistance, Coakley & Theaker is here to help guide you through the process.
At Coakley & Theaker, we’re more than just estate agents, we’re your local property partners. With a wealth of experience and a passion for helping people find their ideal homes, we’re
committed to delivering exceptional service every step of the way. If you’re considering a move to Bury St Edmunds in 2025 or want expert advice on the local property market, contact us today. Call 01284 769691, or get in touch via our social media profiles to discuss your options.
Bury St Edmunds, Suffolk 01284 769691 or 01359 256821 or 01449 737706 or 07803 138123
Email: [email protected] or [email protected]
© 2016 Coakley & Theaker. All rights reserved. / Estate agent websites powered and hosted by 
