Newcastle upon Tyne has been revealed as the fastest property market in the UK, with homes taking an average of just 40 days to go under offer, according to new research from OnTheMarket, part of the Co-Star Group.
The portal’s latest Under Offer Index (UOI), which measures the average time between a property being listed and going under offer, highlights stark regional differences in transaction speeds across the country between December 2024 and February 2025.
56% of homes in Newcastle received an offer within 30 days, pushing the city up five places from the same period last year to take the top spot. Bristol came second, with an average time of 42 days, followed by Plymouth and Sunderland (both 43 days), and Crawley (44 days).
By contrast, Blackpool was once again the UK’s slowest market, with properties taking 74 days on average to go under offer – 15 days longer than the next slowest market, Blackburn (61 days). Just 23% of Blackpool homes secured an offer within a month.
Top five fastest markets (Dec 2024 – Feb 2025):
- Newcastle – 40 days
- Bristol – 42 days
- Plymouth – 43 days
- Sunderland – 43 days
- Crawley – 44 days
Bottom five slowest markets:
- Blackpool – 74 days
- Blackburn – 61 days
- Slough – 60 days
- London – 59 days
- Brighton – 59 days
REGIONAL CONTRASTS
In London, Havering was the fastest borough, with properties taking an average of 44 days to go under offer. Bexley, Waltham Forest, Barking and Dagenham, and Sutton followed closely behind.
At the other end of the spectrum, the City of Westminster was the slowest London borough, with homes taking 79 days on average to attract an acceptable offer. Lambeth, Hammersmith & Fulham, Richmond upon Thames, and Wandsworth also featured among the capital’s slowest areas.
LOCAL MARKETS
Jason Tebb, President of OnTheMarket, said: “It’s not easy to identify geographical trends from our under-offer data, suggesting that transaction speed is largely down to local housing markets.
“The Newcastle property market may be moving briskly but that’s no comfort to sellers in Blackpool where the pace is considerably slower.
“Vendors and buyers can take steps to speed up the process, especially in slower areas, such as ensuring their paperwork is ready and using experienced local agents.”
RENTAL MARKET: ALDERSHOT LEADS, LIVERPOOL TRAILS
In the rental sector, Aldershot topped the list as the fastest-moving market, with properties let within an average of 16 days. Mansfield, Crawley, Worthing, and Basildon rounded out the top five, although all took longer than the previous year’s fastest locations.
In London, Bexley remains the fastest borough for lettings, taking just 20 days on average to rent a property. Merton, Wandsworth, Waltham Forest, and Islington also made the top five.
Kensington and Chelsea was the slowest, averaging 37 days to let a property. Other slower boroughs included the City of Westminster, Barnet, Hounslow, and Harrow.
Tebb added: “The rental market is still proving to be highly competitive in certain areas, with some tenants having to make extremely fast decisions. Tenants would do well to get to know their local agents and get them on side, particularly in fast-moving rental markets.”
