Five fastest and slowest areas in England and Wales to complete property purchases
A new index has highlighted the fastest, and slowest, areas in the country for transaction times. The index calculates the average time it takes between the day when a property is marked as sold (subject to contract – SSTC) and the registration of that property with the Land Registry.
According to the data, the average transaction time taken for Q2-2022, is 15 weeks. With the slowest areas taking nearly four months and the quickest just under two and a half.
In order to create the OneDome HomeBuying Speed Index transactions for every postcode in the England and Wales were calculated. The aim of the index, according to OneDome is to
“speed up the process and deliver a fit for purpose home buying and selling process,”
adding
“speed is becoming one of the most serious problems in the property industry. Average property transaction pipelines are getting longer, which is negatively impacting consumers and businesses, including some of the largest publicly listed companies.”
The slowest postcode in the country is BS25 with an average transaction time of 25 weeks.
The five fastest and slowest regions are shown below.
| Five slowest places in England and Wales | Time (in days) |
| Southampton | 120 |
| Bristol, City of | 119 |
| Central Bedfordshire | 118 |
| Newport | 116 |
| Derby | 116 |
| Five quickest places in England and Wales | Time (in days) |
| North East Lincolnshire | 79 |
| Kensington and Chelsea | 84 |
| Blackpool | 86 |
| Hammersmith and Fulham | 86 |
| Westminster | 87 |
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