The time between accepting an offer and exchanging contracts on a residential property has extended significantly. Analysis by Novus Strategy shows the average is now 135 days, up from 93 days in 2019 (Mortgage Finance Gazette, 25 March 2026). That's an increase of 42 days or 45% - a substantial headwind for anyone planning property acquisitions.

For short-term let operators, this matters directly. If you're timing a purchase to meet seasonal demand or refurbish before peak occupancy periods, you need to plan differently than you would have in 2019.

The Full Timeline Just Got Longer

The 135-day offer-to-exchange window is only part of the equation. Properties spend an average of 86 days on the market before reaching "sold subject to contract" status - itself up from 82 days in 2019 (Novus Strategy, via Mortgage Finance Gazette, 25 March 2026).

Combined, the entire sales process now runs approximately 221 days. That's over seven months from listing to exchanging contracts. Add post-exchange time to completion (typically 10-14 days), and your property sits unavailable for occupancy for most of a quarter.

If you operate short-term lets, this void period directly impacts your annual occupancy rate. A property off the market for 221 days cannot generate nightly rates during that time. Factor that into your yield calculations.

Why Delays Are Accelerating

Transaction volumes declined 3% year-on-year (79,880 transactions in January 2026 versus 82,350 in 2025), yet processing times continue climbing (Novus Strategy, via Mortgage Finance Gazette, 25 March 2026).

The root cause is systemic fragmentation. Claire Van der Zant, Novus CEO, points to technology failure: "Data captured digitally in one organisation cannot easily be reused in the next" (Mortgage Finance Gazette, 25 March 2026). This means information must be re-entered across mortgage lenders, conveyancers, and other parties - each step adding days.

For SA operators, this fragmentation is invisible but costly. You're not the conveyancer or lender, but you pay the price through acquisition delays.

What You Can Control

Start conveyancing immediately. The moment an offer is accepted, instruct your solicitor. Don't wait for the mortgage offer; don't wait for a "right time." Early initiation doesn't guarantee faster completion, but it removes avoidable delays.

Build contingency into your financial planning. If you're underwriting a purchase assuming 93-day timelines, you're underestimating cost of capital. Use 135 days as your planning assumption. Some transactions will close faster, but when they don't, you'll be prepared.

Speak to your solicitor about their processing standards. Not all conveyancers move at the same pace. Ask directly how long their recent completions took from offer to exchange, and whether they can flag bottlenecks early.