Time on the market is down to 65 days

It is taking an average of just 65 days for a newly marketed property to go under offer – ten days faster than a year ago, Rightmove has reported.

There are significant regional variations, however.

The place where properties sell fastest is Cambridge at just 27 days. That compares with Powys, Wales, where time between first listing and sale agreed is 113 days.

Predictably, seven of the top ten fastest selling areas are all London boroughs, from Sutton and Lewisham both at 29 days to Bromley at 35.

Warwick takes 33 days and St Albans 34.

More tortoise-like speeds are in Wales and the north, with Powys followed by Gwynedd (112 days) and Sefton in Merseyside (106 days).

The new data includes all properties that were changed from available to Sold Subject to Contract (SSTC) by agents during April to June.

Miles Shipside, Rightmove director and housing market analyst, said: “This new data shows just how different the pace of the housing market is at a very local level.”