Portsmouth not among UK’s slowest markets overall, but higher-priced homes still take months to sell
Some homes sell quickly, sometimes within days of being listed. Others stay up for months, with viewings slowing down and listings lingering while sellers wait for the right buyer to come along. In parts of the UK where property prices are at their highest, that waiting game appears to be stretching out for longer.
A new analysis by Mortgage Lane looked at 215 local authority areas across the UK to understand how asking prices, supply levels, and selling times vary from place to place. The study combined average asking prices, properties currently for sale, and average time on the market to build a ranking of where higher-value homes are taking the longest to move.
Portsmouth sits in the lower half of the ranking, reflecting a market where higher-priced homes tend to take longer to sell compared with many more affordable areas across the North and Midlands. With around 5,051 properties for sale, the city shows a relatively active housing market, and average asking prices sit at approximately £312,582. Homes typically take around 246 days to sell, placing Portsmouth below mid-table in terms of overall speed, but still within a market where sales often stretch over several months.
What stands out in Portsmouth is the balance between steady demand and a fairly high level of supply. With a large number of homes available at any given time, buyers often have multiple similar options, which can reduce urgency and extend the time properties remain on the market. Even where pricing is more accessible than in southern hotspots, listings can still take a noticeable amount of time to secure a buyer.
Looking at the wider UK picture, the top of the ranking is dominated by London boroughs such as Westminster, Southwark and Lambeth, where higher asking prices and longer selling times are most pronounced. Portsmouth sits well below these areas, but still shows a slower pace than many lower-priced regions where homes tend to move more quickly.
Mortgage Lane housing analyst Joseph Lane said the findings reflect what many buyers and sellers are experiencing in today’s market.
“It’s a bit of a waiting game in a lot of these expensive areas. Sellers still remember peak prices and are pricing accordingly, but buyers are looking at their budgets and just taking longer to make a decision.”
“You’re seeing situations where homes sit there for months, not because nobody’s interested, but because people are being more cautious. If something feels overpriced, buyers just move on and wait for the next option.”
“In cheaper areas, it’s a different story. Things tend to move quicker because the price point is closer to what people can realistically stretch to, so decisions happen faster.”
Top 10 UK slower/expensive areas
Westminster - 1,707 properties for sale | £1,783,525 avg asking price | 292 days on market
Southwark - 1,365 properties | £1,212,867 | 282 days
Lambeth - 2,260 properties | £964,223 | 264 days
Elmbridge - 3,150 properties | £1,008,651 | 252 days
Islington - 1,751 properties | £1,003,962 | 251 days
Brent - 3,379 properties | £965,647 | 254 days
Richmond Upon Thames - 2,433 properties | £938,531 | 245 days
Ealing - 1,164 properties | £931,534 | 243 days
Sevenoaks - 798 properties | £791,350 | 259 days
Kingston Upon Thames - 2,529 properties | £833,976 | 244 days