Falkirk tops the fastest selling property league in Great Britain

New figures show that the town enjoys the fastest selling property market of anywhere in Great Britain and one estate agent said part of the attraction is that it is “commutable and affordable”.

Sellers in the area are finding a buyer in an average of 22 days – seven days more than last year and the current average asking price is £148,736.

In nearby Larbert there is also strong demand with houses there selling in an average of 25 days, 11 more than last year, putting it in sixth spot in the fastest seller league. However, the average asking price is steeper at £220,444.

Broxburn in West Lothian is the second quickest market, with homes finding a buyer in 23 days on average and Renfrew in Renfrewshire is third at 24 days to find a buyer on average.

Seven of the top ten quickest locations to find a buyer are in Scotland, though all areas are taking longer to find a buyer than a year ago.

The data from property website Rightmove shows the average time to find a buyer in Scotland is now 34 days, compared to 22 day last year. While Scotland is the quickest market in Great Britain, London is the longest at an average of 65 days to find a buyer.

Clark Gillespie, area manager with Clyde Property located in the heart of Falkirk, said the market is currently “stable and buoyant”.

He said: “In the last 24 hours we’ve had three properties go to a closing date, all of which have been on the market for less than 14 days. However, people with higher value properties who have experienced 11 interest rate rises in 16 months are seeing a longer selling time.

"We’re finding that property moving quickly is in the £50,000 to £250,000 bracket, with £250,000 to £350,000 slightly slower and the £400,000-plus market is waiting longer for a buyer. But with these larger properties come higher council tax, higher utility bills and mortgages.”

He added that 70 per cent of their business is from people already living in the area who already know the benefits Falkirk district has to offer. “Where else could you live with five railway stations is such close proximity and excellent motorway links,” Clark said. “It is definitely commutable and affordable. However, transactions are down with the economic uncertainty seeing many people deciding to perhaps convert the garage in their current home rather than move to a bigger property.”

Councillor Cecil Meiklejohn, leader of Falkirk Council: “The Falkirk area is continuing to prove be a go to location for home buyers and this survey reflects how quickly individuals and families want to move here. We are optimistic that this trend will continue as people see the many benefits of living in the Falkirk area.”

Across Great Britain, it is currently taking 55 days on average to find a buyer and a further 165 days to complete a sale.

While homes are now taking longer to find the right buyer, the market is still quicker than the pre-pandemic March 2019 average of 67 days to find a buyer.