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A good way to gauge how desirable a location is—whether for buying or renting—is by looking at how quickly properties go under offer, according to the so-called Under Offer Index. While this doesn’t guarantee a completed sale or lease, a fast turnaround typically indicates strong demand in the area.
New research from property platform OnTheMarket sheds light on the speed of property sales and lettings across the UK, highlighting which areas are moving fastest—and slowest.
Fast vs. Slow Markets
Nationally, London ranks as the fourth-slowest region for property sales, with homes taking an average of 59 days to go under offer. Still, this is an improvement compared to Blackpool, where sellers face the longest wait—an average of 74 days. Meanwhile, the fastest-moving markets are in Newcastle-Upon-Tyne (40 days), Bristol (42 days), and Plymouth (43 days), the latter of which topped the list last year.
In the capital, outer London boroughs are leading in speed. Havering, home to areas like Romford and Upminster, is now the fastest place for a property to go under offer, averaging just 44 days—likely boosted by its location on the Elizabeth Line. Close behind is Bexley at 47 days, followed by Waltham Forest at 49 days. Interestingly, these three top-performing boroughs all sit in the northeast of London and are part of the Thames Gateway, an area slated for urban regeneration.
According to Zoopla, Waltham Forest is actually the fastest-selling market in the UK overall, with homes staying on the market for just 19 days and selling for around £525,000 on average.
Here’s how the fastest London boroughs stack up:
Top 5 London Boroughs by Speed of Sale (Days to Go Under Offer):
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Havering – 44 days
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Bexley – 47 days
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Waltham Forest – 49 days
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Barking and Dagenham – 51 days
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Sutton – 51 days
Jeremy Leaf, a north London estate agent and former RICS chairman, notes that affordability and better supply-demand balance make areas like Havering attractive for buyers.
On the flip side, central London continues to see slower sales due to higher prices. In Westminster, it takes about 79 days for a property to go under offer—nearly twice as long as in Havering. Lambeth and Hammersmith & Fulham follow closely, with average times of 74 and 71 days, respectively.
Nina Harrison of Haringtons UK suggests that buyers in prime central areas often take their time, weighing options and waiting for the perfect property at the right price.
Rental Markets: Fastest and Slowest
When it comes to rentals, no single area dominates across London, though Bexley leads again—this time with rental properties going under offer in just 20 days. Merton and Wandsworth tie for second place at 22 days each. Merton benefits from excellent transport links, being the only borough with tube, rail, and tram services.
Here’s how the fastest boroughs rank for rentals:
Top 5 London Boroughs by Speed of Rental Agreement:
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Bexley – 20 days
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Merton – 22 days
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Wandsworth – 22 days
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Waltham Forest – 23 days
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Islington – 23 days
In contrast, some of the most expensive central London boroughs lag behind. Rentals in Kensington and Chelsea take an average of 37 days to secure a tenant, Westminster takes 34 days, and Barnet sees a 33-day wait.
Jeremy Leaf explains that in places like Bexley, high demand and the right type of properties drive faster rental transactions. Meanwhile, central London’s premium pricing slows things down.
On a national scale, the fastest rental markets are Aldershot (16 days), Mansfield (17 days), and Crawley (18 days). The slowest are Liverpool (40 days), Oxford (38 days), and Nottingham (38 days).
Jason Tebb of OnTheMarket notes that while the rental market remains highly competitive in many areas, not all regions are equal. Some markets are significantly "hotter" than others, making it crucial for renters to understand the dynamics of their specific area.
