This is how long it is taking houses in Sheffield to sell – as experts reveal city has one of the UK's fastest-moving property markets

Sheffield has one of the country’s fastest-moving property markets, new figures have revealed.

Monday, 23rd November 2020, 1:40 pm

Homes in the city take 27 days on average to go from being listed to selling subject to contract, the statistics show – this is the quickest rate in Yorkshire, and the sixth most rapid in the UK.

The figures, from property website Zoopla, indicate that the most in-demand homes in Sheffield are priced between £400,000 and £450,000, with three-bedroom semi-detached houses selling the fastest.

Zoopla says the Government’s stamp duty holiday – which means buyers in England and Northern Ireland do not pay the tax on purchases up to £500,000 if transactions complete before the end of March – is having an impact.

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A woman walks past an estate agent's window. (Photo by Rob Stothard/Getty Images)

“With a potential saving of up to £15,000, the rush from buyers to benefit from the stamp duty holiday is very much on,” said consumer spokesman Tom Parker.

“Of course there is still a significant amount of work to be done once a property is under offer, but properties being snapped up quickly by eager buyers is the first hurdle to leap if you want to make that saving.

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“We’d urge buyers to act quickly and decisively in their hunt for a perfect property. Any delay can not only mean you miss out on your dream home but could hit you in the pocket too.”

Homes in Sheffield.

Falkirk in Scotland is named as the place with the fastest-moving market, where homes are taking just 20 days to be sold subject to contract. Waltham Forest in east London comes second, at 24 days – however, this is an exception for southern England, as only three local authorities south of Birmingham have made Zoopla’s top 20.

Houses rather than flats were most in demand in all 20 locations except Liverpool and Manchester.

The figures were calculated as a six-month average from May to October this year.

The website says some of its most popular Sheffield properties for sale include a four-bed semi-detached house on Psalter Lane, Brincliffe, priced £425,000, a three-bed detached house on Banner Cross Road costing £425,000 and a three-bed semi in Walkley with an asking price of £425,000.

In these confusing and worrying times, local journalism is more vital than ever. Thanks to everyone who helps us ask the questions that matter by taking out a digital subscription or buying a paper. We stand together. Nancy Fielder, editor.