7th
Aug 2024
Dependent upon conveyancing delays before completion an average property value could be reduced by as much as £12,500.
A digital property information service says nowadays on average it takes 112 days for a sale to be completed after an offer is accepted.
In the same period of around 16 weeks the average sold price of a home across Britain has jumped up by £5,548 and at the same time in London where prices are so much higher than the rest of Britain, the average home value has sharply risen by £12,507.
The West Midlands, South West, Scotland, North West, Yorkshire and the Humber have also enjoyed above average home values’ increases.
A spokesperson says: “The property market is a peculiar beast and we’re used to hearing about the pace at which it can move, both with respect to homes going under offer, as well as the rate of house price appreciation.
“However, the final stage of progressing a sale from sold subject to contract through to completion simply doesn’t move at the same pace and this can prove problematic.
“ … The provision of comprehensive and upfront material information can help combat such issues, allowing agents to proceed with a sale at greater pace and with increased security from potential fall throughs. In doing so, they can reach the finish line more quickly, ensuring that any deal agreed hasn’t been made redundant from notable swings in market values.”
News Archive »