If you are looking to move in the next six months and have a date in mind then you might want to read this as it will offer some guidance. It’s only a two minute read.
You may need to start the moving process quicker than you think…
Properties in Daventry and surrounding villages continue to go under offer quicker than before the pandemic, but the time taken to complete a sale has risen. Conveyancing delays remain a significant issue for people buying and selling a property.
By the way, if you want our latest August property market update for Daventrythen click here: campbell-online.co.uk/daventry-housing-market-summary-august-2022/
Back in 2019 a survey of home movers found 55% of sales completed within 3 months. This fell to 45% in 2021. Early indications from the 2022 survey suggest that the proportion has continued to drop.
This means that you are now less than 15% likely to complete on a property within eight weeks and less than 30% likely to complete within three months.
We are not trying to be negative, we are trying to do our duty as the nice local property experts in Daventry and the surrounding villages. For us, managing expectations now is more crucial than ever.
For most buyers, the process takes much longer than they expect. 86% of respondents in a recent survey expected to complete their move within 3 months when in actual fact, less than 30% of properties are completing within three months.
If you are looking to move in the next six months and have a date in mind then you might want to read this as it will offer some guidance. It’s only a two minute read.
You may need to start the moving process quicker than you think…
Properties in Daventry and surrounding villages continue to go under offer quicker than before the pandemic, but the time taken to complete a sale has risen. Conveyancing delays remain a significant issue for people buying and selling a property.
By the way, if you want our latest August property market update for Daventrythen click here: campbell-online.co.uk/daventry-housing-market-summary-august-2022/
Back in 2019 a survey of home movers found 55% of sales completed within 3 months. This fell to 45% in 2021. Early indications from the 2022 survey suggest that the proportion has continued to drop.
This means that you are now less than 15% likely to complete on a property within eight weeks and less than 30% likely to complete within three months.
We are not trying to be negative, we are trying to do our duty as the nice local property experts in Daventry and the surrounding villages. For us, managing expectations now is more crucial than ever.
For most buyers, the process takes much longer than they expect. 86% of respondents in a recent survey expected to complete their move within 3 months when in actual fact, less than 30% of properties are completing within three months.
So what does this mean if you are looking to move in the next six months?
Well, the average marketing time (from putting your house on the market to securing a buyer) in the Daventry area at the moment, is three weeks (for the record, at Campbells, it is two weeks). Source: GetAgent.co.uk
Not a bad start, right?
However, the average time for a sale to complete (from securing a buyer to you actually moving) is 150 days.
That is a total of 24 weeks / 6 months.
This means, on average, if you placed your property on the market in August, you would not be moving until February. That is crazy, isn’t it?
However, let us end on a positive note… this is just an average.
As you can see from the graph above, you still have a 45% chance of moving by Christmas if you market by September (three months)
To do this, you need to work hard with the professionals that are helping you (estate agents, solicitors, mortgage advisors etc.) to get your transaction through as quickly as possible. Make sure the people you have chosen are advising you correctly.
For example, at Campbells, our current average time from securing a buyer to completion is 12 weeks (8 weeks faster than the national average.
We have actually had several transactions go through in less than 8 weeks, so it can be done.
– Local Market Update Bespoke To You
– Property Valuations
– Property Marketing Strategies
– Buying and Selling Process
– Mortgage Advice
– Conveyancing Advice
– Professional, Honest Advice
Find out more about me here: campbell-online.co.uk/agent/jamie-campbell-estate-agent-crick-west-haddon-yelvertoft-northamptonshire/
