Moving home: expectation vs reality
Properties continue to go under offer more quickly than before the pandemic, but the time taken to complete a sale has risen. Conveyancing delays remain a significant issue.
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.
Managing expectations is crucial. For most buyers the process takes much longer than they expect. 86% of respondents to the 2021 survey expected to complete their move within 3 months.
For buyers in the market now, the 'move in for Christmas' date is fast approaching.
Source: Dataloft, Property Academy, 2021, based on a survey of 16,000+ home movers
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