Property transactions in London are taking an average of 174 days from an agreed sale to completion, making the capital the slowest region in Britain for home moves, Rightmove analysis indicates. This data highlights significant regional differences in transaction times across the country.
Scotland records the fastest completion times overall, averaging 98 days. This is attributed to its distinct legal framework, which includes Home Reports and upfront information requirements. Within England, the North East is the quickest region, completing transactions 33 days faster than London on average.
At a local level, Clackmannanshire in Scotland has the fastest completion times in Britain at 76 days. In England, Slough records the longest completion times at 229 days, while North East Derbyshire is the fastest English location outside Scotland at 120 days.
The total process for a seller to move in Britain currently averages 216 days, comprising 62 days to find a buyer and 154 days to complete. This represents the longest total process recorded at this time of year. Flats take an average of 169 days to complete, compared to 149 days for terraced and semi-detached houses.
Rightmove Chief Executive Johan Svanstrom stated that an average 154-day wait for the completion process is "far too long." He added that housing mobility is closely linked to economic growth and suggested that greater digitisation, stronger information standards, and transparency are key.