Real estate agent Nick Millican’s recent report by Quick Move and Home.co.uk highlights the challenges in selling property in London. The analysis identifies two fast-paced and 18 slow-selling real estate regions in the UK.

According to the survey, sellers in Soho need an average of 241 days, and they should expect a price drop from £2,192,500 to £2,000,000. Marylebone comes second-least popular among places to sell in London, taking an average of 236 days to sell. Nick Millican brings some more information on these trends.

Notably, Marylebone has had a price bump from £1,820,000 to £1,680,000 since last year, Nick Millican notes. A corresponding change is clear in Mayfair, where housing prices are up from £2,360,000 to £2,395,000. On the other hand, Balham tops the best-seller locations, averaging 56 days, with a price up to £700,000 from £680,000.  

Second place goes to Furzedown, with 57 days on average and a home value up from £500,000 to £525,000 the past year. Bexley comes third, with an average asking price of £450,000 and a time of 62 days. Nick Millican further explains these trends. 

Countrywide, sellers want to be in Glasgow and Edinburgh, where sales take 41 and 51 days respectively. At 53, 54, and 54 days on average, Reading, Ashford, and Bracknell rank third, fourth, and fifth, respectively. Real estate executive Nick Millican highlights three crucial areas shifting market dynamics. While Bexley is rapidly growing and has lower asking prices than last year, Balham and Furzedown are seeing faster sales at higher prices.