The average time to buy a home takes more than five months, according to research from Smoove.
Within the past six months, the average time taken to complete the home purchasing process stands at 153 days, compared to 124 days in 2019.
The increase is most likely a result of the post-lockdown boom, as changing consumer lifestyles and demand outweigh supply, combined with greater constraints for solicitors and local authority searches.
As a result, nine out of 10 homeowners found the process stressful, with 40% of the people citing the sheer length of time it took to complete the process as one of the main reasons.
Simon McCulloch, chief commercial and growth officer, said: “Too often we hear of the misery that comes with moving home. The sheer length of time it takes to complete the process is a major stress driver.”
Research shows that the length of time filling out forms, such as property title deeds, EPCs, local authority searches, and conveyancing forms is a particular aggravation for homeowners.
According to Conveyancing Data Services (CDS), the average length of time to receive personal searches from local councils across England and Wales was between nine to 11 days in August.
However, while many councils are processing requests in a reasonable timeframe, some councils are taking longer on search times, such as Middlesbrough (35 to 40 working days) and Havering (65 to 70 working days).
McCulloch added: “Local property searches being delayed only adds to the pressure and these significantly vary region by region with some search times taking up to 70 days.
“We need to modernise the industry and systematically transform the home moving experience […] whether that means providing transactional visibility, quicker checks, automatic form filling, or real time updates, these will all ultimately ensure a more satisfactory outcome for everyone.”
