New figures from specialist online agency yieldit, which analyses the time taken between a tenanted investment property being listed and an offer being accepted, shows that it takes an average sale time of 38 days.
The data from the company, which specialises in the sale of completed and tenanted investment property, is notably lower than comparable figures from property portal Rightmove (66 days) and Post Office Money (102 days).
According to yieldit’s data, its student properties have an average sale time of 46 days, whilst residential properties usually have a sale agreed within just 33 days. This equates to half of all properties being sold in under a month, with 57% of residential listings selling in under a month, whilst 38% of student pads were snapped up in 31 days or less.
Some 36% of residential buy-to-lets listed with yieldit from 1st June 2018 to 31st December 2018 had an offer accepted in less than two weeks.
Ryan Hughes, head of sales at yieldit, commented: “Our research shows that, contrary to the many headlines suggesting that there is a slowing buy-to-let market, landlords are trading property at a quick pace, with buyers keen to secure a great deal.”