Estate agents in Great Britain are experiencing the longest wait on record for commission payments, as the average home sale now takes 216 days from listing to completion. This timeline includes 62 days to secure a buyer and a further 154 days between sale agreement and completion, according to Rightmove data.
This marks the longest total recorded at this point in the year since Rightmove began tracking the metric. Overall, completion times have increased by 36 days since 2019, despite technological advances.
Regional variations show London with the slowest transaction period for agreed sales, averaging 174 days to complete, compared to 141 days in the North East. Scotland demonstrates the fastest completion rate at 98 days, attributed to its distinct legal process and greater use of upfront information.
Flats remain the slowest property type to complete at 169 days on average, while terraced and semi-detached homes complete in approximately 149 days. Slough records the longest legal transaction process among local authorities at 229 days.
Rightmove's CEO, Johan Svanstrom, stated that the entire home-moving process currently takes more than seven months on average, making this the longest summer wait on record. Brad Fordham of NatWest Group noted that delays cause emotional distress and financial costs for customers, while Nick Leeming of Jackson-Stops emphasised the need for government reform.