North East Property Sales Exchange Fastest, London Slowest
UKPulse Property Desk
New data reveals a significant regional divide in property transaction times, with northern England sales progressing faster than those in London.
- 58.4% of transactions in the North East reach exchange within three months, making it the fastest English region.
- Only 31.1% of transactions in Outer London and 35.4% in Inner London reach exchange within three months.
- Lower-priced homes and freehold properties generally reach exchange faster than higher-value and leasehold properties.
Property transactions are completing significantly faster in northern England compared to London, according to new data from TwentyEA. The North East is the fastest English region, with 58.4% of transactions reaching exchange within three months.
Yorkshire and The Humber follows closely at 55.6%. In contrast, London shows the slowest progress, with only 31.1% of transactions in Outer London and 35.4% in Inner London exchanging within the same three-month period.
The data also indicates a relationship between property value and transaction speed. Over half (54.2%) of homes priced below £200,000 exchange within three months, a figure that drops to 38.2% for properties valued at £1m or more. Tenure also plays a role, with 46.4% of freehold transactions exchanging within three months, compared to 34.9% of leasehold sales.
Why this matters: The regional differences and factors like property value and tenure can influence how quickly a property sale progresses.
What this means for you: If you are buying or selling property, the region, property value, and tenure type may affect how quickly your transaction reaches exchange.