Moving home for Christmas!

No, the recent heatwave didn't go to our heads and whilst we love Christmas we usually don't talk about it during the summer holidays.

Recent statistics indicate that the average time for a property to complete the legal process between accepting an offer and completion the sale currently stands at 150 days. 

The ongoing situation in the legal sector means if you wish to maximise the chance of being in your new home before Christmas then now is the time to place your property on the market.

The price of property coming to market has risen for the fifth consecutive month and whilst many predictions indicate a slowing of the price growth months ahead, annual growth is still on track to be 5% by the end of 2022.

Key market facts:

  • Buyer demand fell 8% in May when compared to April, but remains 6% higher than last year and more than double the pre-pandemic five-year May average
  • Signs of more fresh choice for buyers, with the number of properties coming onto the market up by 7% compared to this time last year, but still below 2019 levels
  • Conveyancing log-jam means the average time for the legal process is circa 150 days
  • More than 500,000 homes are currently sold subject to contract, 44% higher than 2019

To arrange your free valuation call our residential team on 0333 920 2220 or complete the adjacent contact form.

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George F. White is a multi-discipline team of highly experienced Chartered Surveyors, Farm Business Consultants, Land and Estate Agents, Planning Consultants, Architects, Building and Commercial Surveyors.

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Company Registration Number: OC304694 Registered office address: 4-6 Market Street, Alnwick, Northumberland NE66 1TL

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