UK challenger portal OneDome has ranked the fastest- and slowest-selling postcodes in the UK in a new list—with some listings in London selling in as little as 84 days from publication to SSTC.
OneDome's HomeBuying Speed Index covers Q2 2022 and calculated the speed of transactions across every postcode in England and Wales.
The 84 days in Kensington & Chelsea was only beaten by properties in North East Lincolnshire (79 days), with southern cities Bristol (119) and Southampton (120) notably slow.
The slowest selling postcode was in Weston-super-Mare, with an average sale transaction time of 25 weeks.
A OneDome spokesperson said:
"Transaction speed is becoming one of the most serious problems in the property industry. Average property transaction pipelines are getting longer and longer, negatively impacting consumers and businesses alike.
"It is OneDome’s hope that by highlighting this issue, all relevant parties in the industry will focus their attention on ways to speed up the process, and deliver a speedy and fit-for-purpose home buying and selling process."
OneDome's own contribution is a new platform for agents to monitor and manage referrals made and earned through its portal. Lead Exchange is a single online location for agents to introduce prospective clients to home moving services of their choice, such as mortgage advice, conveyancing, chain repair or a part exchange service.
OneDome also developed and launched a Buyer Passport service in June.