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.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Getting Money Wise. The information provided on Getting Money Wise is intended for informational purposes only. Getting Money Wise is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

getting money wise

Welcome! Get your FREE access to EVERYTHING we publish…

Our goal is to show anyone how to make investing profitable. You’ll get our FREE weekly newsletter with latest news and information on investment topics along with special offers. Please take time to read our privacy policy . The information you provide us will be processed in accordance with this.