A professional house buying firm’s speed of sale tool showed it’s taking an average of 16.14 weeks to sell a property in the FK1 and FK2 postcodes.
The area where those selling up were able to do so the quickest between May 2020 and May 2021 was in FK1, where nine sellers waited for an average of 104 days from start to finish to part with their properties.
In the FK2 postcode, out of 14 tracked homes, the listing to completion process lasted, on average, 113 days.
The latest data was analysed by Property Solvers, which followed the moment a home was listed on property portal Rightmove to the point it was marked as officially ‘sold’ at the HM Land Registry.
Ruban Selvanayagam Property Solvers co-founder, said: “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.”
He continued: “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.
“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.”