On average a house sale takes 117.5 days to complete across Preston, Chorley and South Ribble, with more than 700 homes sold between March 2020 and March 2021.
The statistics track the moment a property is listed on the UK’s largest property portal Rightmove to the point it’s marked as officially ‘sold’ at the HM Land Registry.
Professional house buying firm Property Solvers’ speed of sale tool has revealed that it’s taking an average of 16.73 weeks to sell a property across Preston, Chorley and South Ribble.
Property Solvers co-founder, Ruban Selvanayagam commented: “Although buyer demand hasn’t waned over the course of the pandemic, the length of time for transactions to complete has certainly lengthened.”
“Operational activity has still pretty much continued, but the home sales industry – like many others – has had to learn to adapt over the last year. Many solicitors, mortgage brokers and other professionals in our sector have been working from home which has often resulted in administrative and other operational delays,” he continued.
“However, with positive news around the vaccine roll-out, as more people gradually return to offices and agencies, we’re cautiously optimistic about things picking up over the course of the year.”
It is more important than ever on you taking out a digital subscription to support our journalism. For unlimited access to news and information online, you can subscribe here