The time it takes to exchange on a property is creeping back up, according to the latest Housing Insight Report from Propertymark, with 39% of estate agents reporting transaction times of 17 weeks or more.
The company’s June report – based on responses to a monthly survey of around 100 Propertymark member agents across the UK – found the number had dropped to 32%. In July, 37% of respondents reported exchange times of 17 weeks or more.
Now, that number has gone back up to 39% and is edging towards the peak of 41% recorded in 2022 – and only a fraction behind the second-highest figure recorded in June 2023.
exchanging contracts = 17 weeks+
Other benchmarks reported by Propertymark members remained broadly flat: branches registered an average of 74 new prospective buyers ‘suggesting stabilisation in buyer demand’, no change in viewing numbers highlighting ‘a consistent but cautious buying pool’, and stock levels holding steady at 38 properties per branch.
Valuation activity fell to 21 in this reporting cycle, down from 23 last month, with new instructions also falling slightly to 10.9. There were an average 10.3 sales agreed per member branch, 9% of which sold above asking price.
Propertymark CEO Nathan Emerson commented:
“Some regions are reporting robust levels of activity in the sales market, which is especially positive considering the continued economic turbulence being witnessed. However, with strides being made by numerous lenders in bringing improved mortgage products to the market, this could help boost affordability and inspire further market uplift over the coming months on a wider scale.”
The full report can be seen at www.propertymark.co.uk/resource/housing-insight-report-june-2025
One Response
“Number of agents reporting that the average time from offer acceptance to exchanging contracts = 17 weeks+”
What about from listing to offer acceptance?
or
From contracts issued to completion?
The acceptance of an offer may be relevant but a more legally relevant milestone is the date when contracts are issued. That’s what sets the clock running for most law firms.
Also law firms tend to focus on completion rather than exchange given moving day is the most important date for the client.
After all a property transaction is a legal transaction and the legal steps and stages are what secures a successful moving day and pay day for estate agents.