You’ve found the perfect house and are dying to put an offer in. But one thing is holding you back, you need to sell your current home.
Unfortunately, selling a house isn’t as easy or quick as flogging your old chest of bedroom drawers on Gumtree. According to GetAgent.co.uk, it will currently take an average of 162 days to sell a house in England and Wales.
Average time to sell a house
On average it should take 109 days to find a buyer, and it will take a further 53 days for the property to go from under offer to complete. Overall this is 3 days longer than it took last year, according to research by Purplebricks.
But don’t despair if you’re looking to find a buyer quickly then you are in luck if you live in Y062 in North Yorkshire. It will take you just 54 days, but the sale could drag on for 84 days. In the BS3 postcode in Bristol, however, you can expect the sale to be done and dusted in just 16 days.
However, in Nuneaton and Bedworth you can expect the entire sale of your house to soar through in record time. In these areas, it is estimated that a buyer will be found and the sale completed in 125 days, the quickest in the UK.
Redditch slid into second place, taking 128 days for the entire sale. Coventry took third place with 130 days.
It comes as no surprise that homes in London and the South East are taking the longest to sell. This is thought to be thanks to high house prices and Brexit uncertainty.
‘Traditionally the back end of a sale is the most nail-biting and can also be the most protracted as the legal requirements can drag on and on between a number of parties,’ says Colby Short, Founder and CEO of GetAgent.co.uk.
‘However, with current market condition plagued by uncertainty, it’s interesting to see that the time taking to sell is actually taking the longest at the buyer finding stage,’ he adds.
If you’re planning to sell up anytime soon, you should prepare for a 5-month wait.