BLOGS

Introduction

The UK property market has entered a period of prolonged transaction times that is testing the patience of everyone involved in a home sale. What once took weeks now stretches into months, with property chains becoming longer and more fragile. REalyse data reveals that average days on market reached 111 days in early 2024 and has remained stubbornly elevated since, creating a cascade of challenges from the first listing to final completion.

For estate agents managing vendor expectations, for buyers juggling mortgage offers with expiry dates, and for sellers anxiously waiting for their onward purchase to complete, these extended timelines represent more than mere inconvenience. They translate into real costs, broken chains, and missed opportunities.

The numbers behind the slowdown

REalyse analysis of UK sales listings shows significant variation in marketing times across regions and property types. In Q1 2024, properties spent an average of 111 days on market before sale—a figure that improved only marginally to 104 days by Q3 2024.

The picture varies considerably by property type. Detached homes and bungalows consistently take longest to sell, with bungalows averaging 124 days on market in Q1 2024 compared to just 94 days for terraced properties. This gap reflects both the larger financial commitments involved and the thinner buyer pools for higher-value assets.

Regional differences are equally stark. Scotland, with its distinct legal system requiring earlier buyer commitment, sees properties sell in approximately 88-90 days on average. By contrast, the South West, Wales, and London frequently exceed 115 days—creating significant regional disparities in transaction risk.

Transaction volumes have also declined. Completed sales fell from approximately 1.19 million in 2024 to just under 1.05 million in 2025, an 11% drop that points to buyers stepping back from an uncertain market rather than simply taking longer to transact.

Why chains are breaking

Extended timelines create a compounding problem. The typical English or Welsh transaction involves a chain of three or more linked sales, each dependent on the others completing simultaneously. When one link weakens—a down-valuation, a mortgage offer expiring, or a change in buyer circumstances—the entire chain can collapse.

REalyse data shows the asking-to-achieved price discount has climbed from 0.57% in 2024 to 1.42% in early 2026. While these figures appear modest, they mask significant variation at property level and indicate that buyers are increasingly negotiating from strength. Longer marketing periods shift the power dynamic, particularly for vendors who have already committed to an onward purchase.

Higher base rates have compounded the challenge. Mortgage offers typically remain valid for three to six months, creating a ticking clock that sits uneasily alongside marketing periods that can exceed 100 days before an offer is even accepted. Buyers who secured favourable rates early in their search may see those offers expire mid-transaction, forcing renegotiation at less attractive terms or withdrawal from the purchase entirely.

Regional and asset-type implications

The data reveals important nuances for market participants. Scotland's faster transaction times—facilitated by a system where solicitors manage sales and buyers commit earlier through formal missives—demonstrate that legal framework matters. The gap of 20-30 days between Scotland and the slowest English regions represents meaningful cost savings and reduced chain risk.

For investors and developers, REalyse analysis suggests that property type selection and regional focus can materially affect liquidity. Terraced houses and semi-detached properties in northern regions consistently transact faster than detached homes or flats in southern markets. Build-to-rent schemes and smaller unit portfolios may offer more predictable exit timelines than large single assets.

Estate agents navigating this environment increasingly need data-driven pricing strategies. Setting the right asking price from day one has never been more critical—overpriced properties that linger on market for extended periods often achieve lower eventual sale prices than competitively priced listings that generate early interest.

Outlook: adaptation required

The current market conditions show no immediate signs of reverting to the rapid transaction times seen before 2022. With mortgage rates stabilising but remaining elevated by historical standards, and with economic uncertainty persisting, extended timelines appear to be the new normal rather than a temporary aberration.

Market participants are adapting. More buyers are seeking mortgage agreements in principle before viewing properties. Agents are increasingly using comparable transaction data and local market intelligence to set realistic expectations with vendors from the outset. Conveyancers and solicitors are investing in technology to reduce the administrative delays that add weeks to the process.

For the market to function more smoothly, all parties benefit from better data. Understanding true local demand, realistic pricing, and likely time to sale helps vendors price appropriately, helps buyers make informed offers, and helps agents manage chains that actually complete. In a market where transaction delays have become structural rather than cyclical, information is the most valuable tool available.