The average time to exchange contracts on a UK property transaction has increased to 123 days, or just over four months, according to data from TwentyCi.
The figure represents an increase of two days, or 1.8%, compared with 2024 and continues a longer-term trend of extended transaction timelines across the housing market.
Regional differences remained pronounced.
Outer London and the East of England recorded the longest average times to exchange at 4.6 months, followed by Inner London at 4.2 months.
At the other end of the scale, the North East was the fastest-performing region in England at 3.6 months, while Scotland, which operates under a different legal system, remained the quickest overall at 2.9 months.
Across the UK, the data revealed that time to exchange has steadily increased since 2019, rising from an average of 91 days, or three months, to more than four months in 2025.
After peaking in 2022 at 130 days, timelines eased slightly in 2023 and 2024 before edging up again this year.
Katy Billany, executive director of TwentyEA, said regional variation continues to play a significant role in transaction speed.
She said: “Our 2025 data shows that ‘time to exchange’ continues to vary significantly by region, from around 2.9 months in Scotland to 4.6 months in Outer London and the East of England.
“This underlines how local market conditions and legal-system differences remain major drivers of transaction speed.
“Nationwide, the average has crept up over recent years (from roughly 3.0 months in 2019 to about 4.1 months in 2025), confirming that the trend towards longer waits to exchange contracts is far from resolved.”
She continued: “With many buyers waiting four months or more just to exchange, this extended timeline puts pressure on affordability, adds uncertainty for sellers and buyers alike, and magnifies the risk of fall-throughs, especially when interest rates or economic conditions shift part-way through the process.
“In our opinion, the MHCLG’s consultation, focussed on reducing transaction timelines and costs for buyers, especially first-time buyers cannot conclude fast enough.
“As a group, TwentyCi has committed to Project 28 which aims to slash the time from ‘sale agreed’ to exchange from roughly 100+ days down to just 28, a major step toward reliability, transparency and fewer failed sales.
“With this growing focus and industry momentum, we’re hopeful that steps toward meaningful change will begin to take shape as we move into 2026.”
