Translate this site

enzh-CNzh-TW

Raeside Chisholm Solicitors

The directors of Raeside Chisholm are experienced solicitors who enjoy a deserved reputation in Glasgow and beyond for personal attention allied to a commitment to outstanding levels of quality legal services. For enquiries, please contact us on 0141 248 3456.
2 minutes reading time (445 words)

Scottish homes are selling 28% quicker than the rest of the UK

Residential properties in Scotland are taking an average of 12.57 weeks to sell compared to 16.11 weeks in England and Wales – representing a 28.16 per cent difference, recent figures reveal.

The data, which was conducted by Property Solvers, discovered in the 12 months to May 2019, houses in Paisley took an average of eight weeks for 251 properties to sell. From marketing the property to completion of the sale, sellers in Glasgow and Edinburgh were waiting an average of 13 and 14 weeks respectively. Motherwell and Kirkcaldy experienced the slowest pace in Scotland, where 732 sellers waited an average of 15 weeks for the property sale to complete.

While a relatively small number of sales in Central London took between 10 and 11 weeks, the majority of sales in England were taking at least five weeks longer. More than 2,000 sellers in Southend-on-Sea, Torquay, North London, Watford and Southall, were waiting an average of 18 weeks for the conveyancing process to complete.

Why are Scottish properties selling at a faster rate?

In Scotland, it is typically a solicitor that will take responsibility for marketing residential property, whereas, in England and Wales, this is usually done by an estate agent.

Claire Flynn, from Edinburgh Solicitors Property Centre (ESPC), explained:

“The prevalence of the solicitor estate agent in Scotland means buyers and sellers are able to get expert legal and market advice from solicitors and property managers in one place and earlier in the process.

Their expertise helps to ensure strong marketing of properties, which results in fast selling times.”

Before a property can be added to the market, Scottish sellers are required to deliver a Home Report, an energy performance certificate and a property questionnaire. Additionally, the seller will generally supply a ‘single survey’ which the buyer can use for mortgage approval. Provided that the surveying firm is on the lenders approved panel, there are usually no obstacles and should result in a smooth transaction. This minimises the chance of down-valuations that can result in sellers trying to renegotiate the purchase price or pulling out altogether; an increasing problem in both England and Wales.

Ruban Selvanayagam, co-founder of Property Solvers, concluded:

“Although the sample size is lower and the system is far from perfect, it’s evident that the English and Welsh conveyancing process could learn some key lessons from Scotland.”

Contact our Conveyancing Solicitors West End, South Side & Glasgow City Centre, Scotland

If you are looking to buy or sell your home but are unsure of the conveyancing process in Scotland, get in touch with Raeside Chisholm solicitors for qualified legal advice. Speak with a member of our team today via the online enquiry form.

MSPs vote in favour of smacking ban bill
Humanist marriages are the least likely to end in ...

Online Enquiry

  1. Name(*)
    Please let us know your name.
  2. Email(*)
    Please let us know your email address.
  3. Daytime Tel. No.
    Please enter your daytime telephone number.
  4. Subject(*)
    Please write a subject for your message.
  1. Message(*)
    Please let us know your message.
  2. Please tick below for antispam verification (*)
    Invalid Input

Latest News

19 July 2019
Commercial
The commercial property sector experienced a sharp fall in the value of sales during the first quarter of this year, according to a new report.Between January and March 2019, commercial sales in Scotland totalled £763 million; an increase of seven pe...
04 June 2019
Family Law
The Scottish parliament has voted by an overwhelming majority (80 votes to 29) in support of banning the physical punishment of children.The bill, which was lodged by the Scottish Green MSP John Finnie, removes the defence of ‘justifiable assault’ fr...
22 May 2019
Estate Agency
Residential properties in Scotland are taking an average of 12.57 weeks to sell compared to 16.11 weeks in England and Wales – representing a 28.16 per cent difference, recent figures reveal.The data, which was conducted by Property Solvers, discover...
09 April 2019
Family Law
Scottish couples married in humanist ceremonies have a higher chance of avoiding divorce than those who get married in a Church of Scotland, Roman Catholic or civil ceremony, according to recent figures.The Scottish Courts and Tribunals Services...
19 March 2019
Estate Agency
There has been a 56 per cent rise in first-time buyers (FTBs) in the last decade, from 22,100 in 2008 to a total of 34,519 last year, according to the latest Bank of Scotland First-Time Buyer Review.Those taking their first step onto the propert...
31 January 2019
Commercial
According to the latest figures from Knight Frank, recent investments into industrial property, office and retail space have now led Scotland’s commercial property sector to have one of its most active years yet, with £2.5 billion worth of ...

As featured in

Latest Tweets

Connect with us

Recent Client Comments