Latest data shows house sale transactions are taking an average of 122 days to complete across the Grantham (NG31, NG32 and NG33) postcodes since the beginning of the pandemic.
Sellers were waiting up to 128 days on average in the NG33 postcode.
Professional house buying firm Property Solvers’ speed of sale tool has revealed that it’s taking an average of 17.43 weeks to sell a property in the Grantham (NG31, NG32 and NG33) postcodes.
Updated monthly, the latest dataset analyzed over 148 property sales across the region between February 2023 and February 2024.
The statistics track the moment a property is listed on the UK’s largest property portal Rightmove to the point it’s marked as officially ‘sold’ at the HM Land Registry.
In the NG32 and NG33 postcodes, out of the 37 tracked properties in the 12 months to February 2024, home sellers were waiting 125 days on average from listing to completion.
Properties were selling the fastest in the NG31 postcode. 111 homes in this area took 115 days to sell on average.
Property Solvers co-founder, Ruban Selvanayagam commented: “Although buyer demand hasn’t waned over the course of the pandemic, the length of time for transactions to complete has certainly lengthened.”
“Operational activity has still pretty much continued, but the home sales industry – like many others – has had to learn to adapt over the last year. Many solicitors, mortgage brokers and other professionals in our sector have been working from home which has often resulted in administrative and other operational delays,” he continued.
“However, with positive news around the vaccine roll-out, as more people gradually return to offices and agencies, we’re cautiously optimistic about things picking up over the course of the year.”
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