Whether you’re buying or selling a house, you may be wondering how long it will take for your sale or purchase to complete. Waiting for everything to go through can be a stressful and worrying time. Especially if you have found your dream home but are still waiting to sell yours.
Once you have secured a buyer or had an offer accepted, it can seem like nothing is happening, and the wait to complete the sale can feel never-ending. In this article, we take a closer look at the average time it takes for a house sale, how this may differ between regions, the stages of a house sale and factors that may delay things.
Let’s start by looking at the average time it takes for a house sale to complete across different regions of the UK.
What is the average time to sell a house in the UK?
Currently, on average, a house sale takes around six months from start to finish. But the average time to get a buyer is around 60 to 75 days. However, this depends on the type of property, the price of the house and its location.
The housing market is not uniform across the country, and different regions behave differently. This is largely driven by the demand for housing in certain areas, such as London or areas with good transport links to the capital. According to the most recent research from Statista, the average number of days that it takes to sell a house across different regions of the UK is:
- Wales: 80
- London: 78
- East Midlands: 77
- South East and East of England: 75
- South West: 74
- Yorkshire and the Humber: 71
- West Midlands: 71
- North West: 69
- North East: 62
The stages of a house sale
When it comes to selling a property, the timeline of selling a house on the open market can vary, but the following timelines can act as an approximate guide:
- Selecting an estate agent and getting the house on the market can take 2-4 weeks.
- Taking viewings and receiving an acceptable offer can vary but typically takes between one and fourteen weeks.
- The time it takes from accepting an offer to property searches is usually around five weeks.
- The time between searches and exchanging contracts often takes around eight weeks. This can be a worrying time, as the sale isn’t legally binding until the contracts have been exchanged.
- After the exchange of contracts, it can take around two to four weeks to complete the sale.
What can slow down the house-buying process?
There are a few things that might delay the sale process and make things take longer. These include:
- Conveyancing issues, such as missing paperwork or complications with the property.
- Issues that arise from the home buyer survey that either need fixing before the sale goes ahead or adjustments to the price made to cover the costs of repair.
- Setbacks in the chain, such as your buyer losing their buyer or someone in the chain experiencing delays in getting their mortgage agreement.
Buy or sell your property with Shortland Horne
If you are looking to buy or sell a property, then you can trust Shortland Horne. As multi-award-winning estate agents, we have the experience and expertise to help your house purchase or sale go as smoothly as possible. Find out more about our selling process, or get in touch with our team to discuss your situation.