How long does it take to move?

According to property portal Rightmove, the average time it now takes for a sale to cross the finish line is 150 days. This period spans from the moment the sale is agreed, right the way through to the exchange of finances and keys.

With high buyer demand and fewer properties on the market resulting in record prices and delays in the conveyancer process, the duration of property sales’ completions is proving longer than it used to be.

With such contrast compared to historical selling and buying trends, the likelihood is this will continue. This year, the number of pending sales completions is 44% higher than it was in 2019. Buyer demand is now easing, yet levels are still significant at 26% higher than 2019.

If you’re a homeowner, your optimal chance for a faster move is to be in a strong buying position. Placing your property on the market before you look for a new home is a good start. Having a short chain or no chain at all will lead to a faster sales completion. You’re onto a winner if you have a sale agreed already, or you’re a cash buyer.

The best action for first time buyers to take is to have a mortgage agreed in principle. Making you a more appealing choice to sellers, this gives you a better chance of securing a home sooner.

If you’re in the process of an exchange and using a conveyancer, let them know a realistic date for when you expect the sale to finish. Make any enquiries you have early on and check for up-dates on the sale regularly.

Our new reservation agreement improves your chances of a faster sale from the start. Legally binding, the agreement aids in securing your sale and saves you potentially weeks of time.

If you are interested in selling your property or would like up-to-date valuation advice, please contact your local branch.