UK Home Moves Now Longest on Record, Taking 216 Days

The average time it takes to move house in Britain has reached a record high of 216 days, according to data from property website Rightmove. This figure represents the total time from a seller finding a buyer to completing the move into a new home. The lengthy process is attributed to a combination of factors, including delays in the property chain, issues with properties themselves, and an increasing caseload for legal professionals.

On average, sellers spend 62 days finding a buyer and an additional 154 days from the acceptance of an offer to the final move. This completion period is the longest recorded since Rightmove began tracking the data.

Regional Variations in Moving Times

Home movers in London face the longest waits, with an average total moving time of 244 days. This includes 70 days to find a buyer and 174 days to complete the transaction after an offer is accepted. The East of England and the South East of England also experience significant delays, with total moving times of 237 days each. In these regions, the completion phase can take around 170 to 171 days.

The North East of England is the fastest region within England for property transactions, averaging 194 days. Scotland generally leads as the fastest part of Britain to complete a move, with an average of 127 days. This efficiency is partly due to differences in legal processes, such as the greater use of upfront information and Home Reports, which provide buyers and sellers with earlier certainty.

Areas within Scotland, like Clackmannanshire, Angus, and Dumfries and Galloway, show particularly swift completion times, ranging from 76 to 77 days for the legal process of buying a home.

Factors Contributing to Delays

Rightmove highlighted that overworked conveyancers, managing increasingly high caseloads within a fragmented and manual moving process, are significant contributors to the delays. Issues with property searches that uncover problems or complications within extended property chains further exacerbate the problem. Johan Svanstrom, Rightmove’s chief executive, stated that the prolonged completion process, averaging 154 days, is "simply far too long" and suggested that greater digitization, improved information standards, and transparency are crucial for improving housing mobility and fostering economic growth.

Reform Proposals

In response to long-standing criticisms of the home-buying process, including frequent deal collapses and financial losses for buyers and sellers, political parties have proposed reforms. Labour has put forward plans to modernize the system in England and Wales, which would involve the wider adoption of reservation agreements. These agreements require buyers and sellers to pay a reservation fee and commit to a set timeframe for progressing the sale, with financial penalties for pulling out. The aim is to create a stronger incentive for both parties to complete the transaction. Additionally, proposals include making more property information available earlier in the sales process to enable better-informed decisions from the outset.

Brad Fordham, head of mortgage distribution and underwriting at NatWest Group, echoed the need to reduce moving times, citing the emotional distress and financial costs that delays within the conveyancing journey impose on customers. He believes the widespread adoption of digital technology is the most effective way for the industry to expedite the home ownership journey.

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