Recent data reveals that UK property transactions now take an average of 205 days to complete — that’s more than six months from offer to moving day. For many buyers and sellers, that means half a year of waiting, uncertainty, and stress.
If you’re currently buying or selling a home, you’ll know how frustrating it can be. You’ve found the perfect property, your offer’s been accepted, but then… the waiting begins.
Why Are Property Transactions Taking So Long?
Despite a housing market boom, the time between offer and completion has stretched to nearly seven months on average. For buyers and sellers alike, that’s a long wait — and it’s creating frustration, uncertainty, and, in some cases, even lost sales.
Why more people turning to auction
In recent years, more homeowners have discovered that buying and selling by auction offers a faster, more secure alternative. Unlike traditional sales, auctions work to a 56-day completion timeframe – when the virtual hammer falls, the buyer commits with a non-refundable Reservation Fee and a legally binding agreement, reducing the risk of fall-through.
Here are some key benefits of selling your property with auction
- Faster completion: most auction transactions complete within 56 days, compared to the 205-day average for property sales.
- Greater certainty: buyers are financially committed from the start, giving sellers peace of mind.
- Transparent process: all interested buyers bid openly, helping you achieve the best possible price.
How the Modern Method of Auction makes it easier
The Modern Method of Auction (MMoA) combines the speed and security of traditional auction with the flexibility of online bidding. If you’re selling -this means your property can reach a wider audience, including buyers who need a mortgage. Buyers can also feel the benefits, as efficient purchases bring increased assurances that the sale will go through. Over the past decade, demand for this approach has grown significantly in line with preferences for online transactions and more choice when buying and selling property.
Thinking of selling your property quickly?
If you’re looking for a faster, more secure way to move, auction could be the right choice for you. It gives you control over timescales, certainty over the sale, and the reassurance that the process is transparent from start to finish.
To find out how much your property could achieve at auction, speak to us to find out more on 01536 261666.
Information Sources and References
