Daventry homes taking more than four months to sell

Professional house buying firm Property Solvers’ speed of sale tool has revealed that it’s taking an average of 17.57 weeks to sell a property in Daventry.

Friday, 21st May 2021, 11:41 am
Updated Friday, 21st May 2021, 11:42 am
The housing market in Daventry has been uncertain.

Updated monthly, the latest data set analysed over 87 property sales across the region between May 2020 and May 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.

In the NN11 postcode, out of the 87 tracked properties in the 12 months to May 2021, home sellers were waiting 123 days on average from listing to completion.

Property Solvers co-founder, Ruban Selvanayagam 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. 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 said with positive news around the vaccine roll-out, as more people gradually return to offices and agencies, the property market should improve.

Ruban added: "We’re cautiously optimistic about things picking up over the course of the year.”