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Stuck on the Market: Why Are Homes Taking Over 200 Days to Sell?
The average time to sell a UK property has now climbed above 200 days for the first time on record, according to new figures from TwentyEA, a company that provides property market data and insights to estate agents and other professionals in the UK residential property market.
The TwentyEA data, covering January to May 2024, shows it’s now taking 203 days on average from listing to completion. That’s more than six and a half months from first listing to keys changing hands – a striking figure in any market.
On Property Matters this Tuesday 1st July at 1pm, we’ll be talking about what this means for buyers, sellers, agents and conveyancers alike. Gareth Wax hosts, with Hamish McLay in attendance, and we’ll be joined by Rowan Waller – better known as The Property Pen. With two decades in agency and a sharp eye on national trends, Rowan brings lived experience of what’s happening at ground level.
TwentyEA’s figures show that it’s not just conveyancing delays pushing up the timeline. Homes are also taking longer to go under offer, pointing to wider issues of buyer confidence, pricing strategies, and affordability. The supply of properties for sale is up nearly 19% year-on-year, yet sales agreed have barely moved – up just 1.9%. That mismatch suggests something is sticking.
Mortgage conditions are part of the story, too. While rates have cooled slightly from last year’s highs, lenders are still cautious and buyers remain price-sensitive. Many sellers are holding out for higher offers, even if it means sitting on the market for months. Chains are longer, leaseholds remain complex, and local variations play a bigger role than ever.
Every part of the process feels stretched – from initial listings to the final exchange. On this week’s podcast, we’ll reflect on how agents, conveyancers and property professionals are navigating these delays in real time. Some homes still fly. Others flounder. Understanding why is more important than ever.
Tune in live on Tuesday 1st July at 1pm for Property Matters, hosted by Gareth Wax, attended by Hamish McLay, and featuring special guest Rowan Waller, The Property Pen. It’s a timely conversation for anyone trying to understand today’s long and winding path to completion.
PS:
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The TwentyEA data, covering January to May 2024, shows it’s now taking 203 days on average from listing to completion. That’s more than six and a half months from first listing to keys changing hands – a striking figure in any market.
On Property Matters this Tuesday 1st July at 1pm, we’ll be talking about what this means for buyers, sellers, agents and conveyancers alike. Gareth Wax hosts, with Hamish McLay in attendance, and we’ll be joined by Rowan Waller – better known as The Property Pen. With two decades in agency and a sharp eye on national trends, Rowan brings lived experience of what’s happening at ground level.
TwentyEA’s figures show that it’s not just conveyancing delays pushing up the timeline. Homes are also taking longer to go under offer, pointing to wider issues of buyer confidence, pricing strategies, and affordability. The supply of properties for sale is up nearly 19% year-on-year, yet sales agreed have barely moved – up just 1.9%. That mismatch suggests something is sticking.
Mortgage conditions are part of the story, too. While rates have cooled slightly from last year’s highs, lenders are still cautious and buyers remain price-sensitive. Many sellers are holding out for higher offers, even if it means sitting on the market for months. Chains are longer, leaseholds remain complex, and local variations play a bigger role than ever.
Every part of the process feels stretched – from initial listings to the final exchange. On this week’s podcast, we’ll reflect on how agents, conveyancers and property professionals are navigating these delays in real time. Some homes still fly. Others flounder. Understanding why is more important than ever.
Tune in live on Tuesday 1st July at 1pm for Property Matters, hosted by Gareth Wax, attended by Hamish McLay, and featuring special guest Rowan Waller, The Property Pen. It’s a timely conversation for anyone trying to understand today’s long and winding path to completion.
PS:
For content enquiries:
For podcast/media info:
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