Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Average time to sell property jumps to 320 days

sell property

Between January and June of this year, the average property was taking 320 days to sell, a rise of 2 weeks on 2020 data, shows data from GetAgent.co.uk

The average time it takes to sell a property has jumped to 320 days, according to the latest data from GetAgent.co.uk.

Data from the estate agent comparison site shows that between January and June of this year, the average property was taking 320 days to sell, a rise of 2 weeks on 2020 data.

However, there are regional variations. The North East has seen the biggest rise in the time taken to sell a home. The average property in the region took 339 days to sell during the first six months of this year, 38 days longer than the previous six months.

London (+26) and the South West (+19) have also seen some of the biggest rises in transaction times.

London also ranks top in terms of longest current time to sell. The average home has taken 363 days to sell, with the North East (339) and East of England (332) also home to some of the longest property selling times so far this year.

Not only is the West Midlands home to the quickest time to sell so far this year, but it’s the only region where the average home is selling in less than 300 days (286).

Founder and CEO of GetAgent.co.uk, Colby Short, commented: The property market has continued to defy expectations during 2021, fuelled by the government’s decision to extend the stamp duty holiday. Unfortunately, the compromise continues to be an increase in the time it’s taking for transactions to complete.

He said: With lengthy delays having already amassed during the latter half of last year, the average time it’s taking for sales to complete has increased by just over two weeks so far in 2021 – although this stretches to over five weeks in the capital.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.