Zoopla’s time-to-sell metric measures the period between a property’s initial listing and the agreement of a sale, subject to contract. It does not account for the additional months often required to finalise the transaction. Scotland was excluded from the analysis due to its different property selling system, which tends to expedite sales.
While two-bed terraced homes have traditionally sold quickly in more expensive regions like London and the East of England, they are now the fastest-selling property type in more affordable areas as well. This shift, Zoopla said, is likely driven by higher borrowing costs, which are influencing buyer preferences.
In the past three months, these homes were the fastest-selling property type in six of the 10 regions in England and Wales, with the quickest sales recorded in Yorkshire and The Humber (24 days), London (25 days), and the West Midlands (26 days).
The popularity of two-bed terraces is evident, with 60% of sales for this property type being agreed within 30 days of listing. Their appeal is heightened by their relative scarcity, as they comprised only 7% of listings in the past three months, creating competition among buyers.
The Zoopla research also shows these homes attract a diverse range of buyers. For first-time buyers, they offer good value for money, with the average asking price for a two-bed terrace at £200,000, compared to £275,000 for a two-bed flat.