Estate agents in Great Britain are experiencing the longest wait on record to receive commission payments, as the average home sale now takes 216 days from listing to completion, according to analysis by Rightmove.
The property portal’s data shows the current timeline comprises 62 days to secure a buyer and a further 154 days between sale agreement and completion – the longest total recorded at this point in the year since Rightmove began tracking the metric.
Regional variations
Completion times vary significantly across the country. London records the slowest transaction period, with agreed sales taking an average of 174 days to complete, compared with 141 days in the North East. Scotland demonstrates the fastest completion rate at 98 days, attributed to its distinct legal process and greater use of upfront information.
Flats remain the slowest property type to complete at 169 days on average, while terraced and semi-detached homes complete in approximately 149 days.
Financial implications
The extended completion periods represent a significant challenge for estate agents, whose sales remain tied up for months after agreement, increasing the risk of chain collapses and delaying fee income. Rightmove’s previous research indicates that nearly a quarter of agreed sales initially fall through, with around 6% failing altogether and not returning to market within a year.
The portal estimates £205 billion worth of residential property currently listed on its platform must navigate the completion process before transactions finalise. These delays come as interest rate uncertainty continues to affect the housing market, adding further complexity to transaction timelines.
Completion times have increased by 36 days since 2019 despite technological advances, with high conveyancing workloads, lengthy chains, leasehold complexities and manual processes continuing to slow transactions.
Industry response
Johan Svanstrom, Rightmove’s CEO, said: “A healthy housing market depends on people being able to move home easily and with certainty. However, the entire home-moving process currently takes more than seven months on average, making this the longest summer wait on record.”
Brad Fordham, head of mortgage distribution and underwriting at NatWest Group, noted that the figures demonstrate more needs to be done to reduce moving times. “Delays within the conveyancing journey cause emotional distress and real financial costs for our customers,” he said.
Nick Leeming, chairman of Jackson-Stops, emphasised that reforming the home-buying and selling process must remain a priority for the Housing Minister and Government. “Once a sale has been agreed, there are a number of legal and administrative stages before completion, involving conveyancers, mortgage lenders and local authorities,” he said.
Slowest and fastest markets
Among local authorities, Slough records the longest completion time at 229 days for the legal transaction process, followed by Brentwood at 209 days and Colchester at 205 days. Scottish local authorities dominate the fastest completion times, with Clackmannanshire completing in 76 days, and Angus and Dumfries and Galloway both at 77 days.
Outside Scotland, North East Derbyshire shows the quickest completion time at 120 days, followed by North East Lincolnshire at 122 days.
The data comes as buyers continue to face affordability challenges, with extended transaction times adding further pressure to an already complex market. Rightmove has expressed support for the government’s proposed home-moving reforms, including earlier information sharing and greater digitisation of conveyancing, which it argues would reduce fall-throughs and improve certainty for all parties involved in property transactions.
