THE PROPERTY FILTER TAKE
UK property transactions now average 221 days from listing to exchange, the highest figure on record according to Novus Strategy analysis of TwentyCi data.
From a portfolio perspective, that is seven months of capital exposed to mortgage rate moves, chain collapses, and late-stage fall-throughs - any of which can derail a deal you thought was secured.
If you are planning a portfolio exit or acquisition, you may wish to instruct your solicitor before marketing and order any leasehold pack immediately - both steps are proven to cut weeks off the timeline.
UK home sellers now wait an average of seven months from listing to exchange of contracts, according to analysis by Novus Strategy using TwentyCi data. The end-to-end figure of 221 days is the longest on record, and it arrives at a time when transaction volumes are actually down, pointing to a structural problem in the conveyancing system rather than simple capacity pressure.
Why are transaction times now at a record high?
The time from offer acceptance to exchange has reached 135 days - up 45% from the 93 days it took in 2019, according to Novus Strategy. Connells Group data from May 2026 confirmed the trend: for the first time on record, the national average from offer agreed to exchange crossed 100 days, hitting 104 days in April.
Nearly one in five homes - 17% - now take more than six months to exchange after going under offer, Connells Group found. A decade ago that figure was just 5%. As deals stretch longer, the exposure window widens. Connells Group data shows 37% of agreed sales in 2025 did not reach completion, and 23% of fall-throughs now happen more than three months after a deal was agreed - up from 18% in 2019.
Claire Van der Zant, chief executive of Novus Strategy, told Mortgage Solutions in March 2026 that the ecosystem "remains too fragmented". She pointed to data captured digitally in one organisation that "cannot easily be reused in the next", creating friction at every handoff in the transaction chain between agents, solicitors, mortgage lenders, and local authorities.
Is your property type making the delays worse?
The leasehold-freehold gap has never been wider. Connells Group recorded the typical leasehold home taking 155 days to exchange in April 2026, against 97 days for freehold. That 58-day difference is the largest ever recorded - a dramatic widening from the 13-day gap that existed before Covid.
Managing agents sit at the centre of the problem. Leasehold packs covering service charge accounts, building insurance, and planned works notices routinely take four to six weeks to produce. That wait runs inside the offer-to-exchange window, not before it starts.
For investors, this is a direct portfolio concern. Flats in London and other major urban centres - where leasehold dominates - carry the biggest timing risk on any exit or disposal. Properties above £1 million saw exchange times rise by 8% in a single year, from 136 days to 146 days, according to Novus Strategy. If you are building your exit strategy at the upper end of the market, build at least five months of runway into your modelling.
What can sellers actually do to cut the wait?
The data shows most delay happens after an offer is accepted, which means sellers have more control than most realise. These steps move the needle.
Instruct your solicitor before you go on the market. Have your TA6 and TA10 property information forms completed before you receive an offer. Your conveyancer has no dead time waiting for your instructions - and the legal process starts the moment a buyer signs.
Order the leasehold pack the moment you list. Two to six weeks is standard lead time for managing agents. Starting before you have a buyer means that wait runs in parallel with the search process, not after it. For leasehold sellers, this is the single highest-impact step available.
Line up your finance before you need it. For portfolio investors managing a refinance alongside a disposal, having finance agreed in advance prevents one transaction stalling another. Buyers with a current mortgage decision in principle also reduce lender processing time after offer acceptance - which matters if you are the seller waiting on a dependent purchase.
Respond to solicitor queries the same day. Aneisha Beveridge, research director at Connells Group, notes that "extra checks, longer chains and tighter legal and compliance requirements are all adding time." Your solicitor moves at the pace of your replies. A same-day response to a requisition prevents days of drift and, in a seven-month transaction, those days compound.
Understanding the financing and negotiation dynamics on both sides of a deal gives you a much clearer view of where the bottlenecks are likely to sit. Use the free resources at Property Filter to stress-test your assumptions before you commit.
Key takeaways
- UK property transactions now average 221 days from listing to exchange, the highest figure ever recorded according to Novus Strategy. - Leasehold properties average 155 days to exchange after an offer is agreed, versus 97 days for freehold - a gap that has widened from just 13 days before Covid, per Connells Group. - Sellers can cut weeks off the process by instructing a solicitor before marketing and ordering leasehold packs before a buyer is secured.
UK home sellers now wait an average of seven months from listing to exchange of contracts, according to analysis by Novus Strategy using TwentyCi data. The end-to-end figure of 221 days is the longest on record, and it arrives at a time when transaction volumes are actually down, pointing to a structural problem in the conveyancing system rather than simple capacity pressure.
Why are transaction times now at a record high?
The time from offer acceptance to exchange has reached 135 days - up 45% from the 93 days it took in 2019, according to Novus Strategy. Connells Group data from May 2026 confirmed the trend: for the first time on record, the national average from offer agreed to exchange crossed 100 days, hitting 104 days in April.
Nearly one in five homes - 17% - now take more than six months to exchange after going under offer, Connells Group found. A decade ago that figure was just 5%. As deals stretch longer, the exposure window widens. Connells Group data shows 37% of agreed sales in 2025 did not reach completion, and 23% of fall-throughs now happen more than three months after a deal was agreed - up from 18% in 2019.
Claire Van der Zant, chief executive of Novus Strategy, told Mortgage Solutions in March 2026 that the ecosystem "remains too fragmented". She pointed to data captured digitally in one organisation that "cannot easily be reused in the next", creating friction at every handoff in the transaction chain between agents, solicitors, mortgage lenders, and local authorities.
Is your property type making the delays worse?
The leasehold-freehold gap has never been wider. Connells Group recorded the typical leasehold home taking 155 days to exchange in April 2026, against 97 days for freehold. That 58-day difference is the largest ever recorded - a dramatic widening from the 13-day gap that existed before Covid.
Managing agents sit at the centre of the problem. Leasehold packs covering service charge accounts, building insurance, and planned works notices routinely take four to six weeks to produce. That wait runs inside the offer-to-exchange window, not before it starts.
For investors, this is a direct portfolio concern. Flats in London and other major urban centres - where leasehold dominates - carry the biggest timing risk on any exit or disposal. Properties above £1 million saw exchange times rise by 8% in a single year, from 136 days to 146 days, according to Novus Strategy. If you are building your exit strategy at the upper end of the market, build at least five months of runway into your modelling.
What can sellers actually do to cut the wait?
The data shows most delay happens after an offer is accepted, which means sellers have more control than most realise. These steps move the needle.
Instruct your solicitor before you go on the market. Have your TA6 and TA10 property information forms completed before you receive an offer. Your conveyancer has no dead time waiting for your instructions - and the legal process starts the moment a buyer signs.
Order the leasehold pack the moment you list. Two to six weeks is standard lead time for managing agents. Starting before you have a buyer means that wait runs in parallel with the search process, not after it. For leasehold sellers, this is the single highest-impact step available.
Line up your finance before you need it. For portfolio investors managing a refinance alongside a disposal, having finance agreed in advance prevents one transaction stalling another. Buyers with a current mortgage decision in principle also reduce lender processing time after offer acceptance - which matters if you are the seller waiting on a dependent purchase.
Respond to solicitor queries the same day. Aneisha Beveridge, research director at Connells Group, notes that "extra checks, longer chains and tighter legal and compliance requirements are all adding time." Your solicitor moves at the pace of your replies. A same-day response to a requisition prevents days of drift and, in a seven-month transaction, those days compound.
Understanding the financing and negotiation dynamics on both sides of a deal gives you a much clearer view of where the bottlenecks are likely to sit. Use the free resources at Property Filter to stress-test your assumptions before you commit.
Key takeaways
- UK property transactions now average 221 days from listing to exchange, the highest figure ever recorded according to Novus Strategy. - Leasehold properties average 155 days to exchange after an offer is agreed, versus 97 days for freehold - a gap that has widened from just 13 days before Covid, per Connells Group. - Sellers can cut weeks off the process by instructing a solicitor before marketing and ordering leasehold packs before a buyer is secured.
Frequently asked questions
Frequently asked questions
How long does the average UK property transaction take in 2026?
Why does leasehold take longer than freehold to exchange?
What is the most effective step a seller can take to speed up conveyancing?
How does a long transaction timeline affect a property portfolio?
