Semi-Detached Houses Seal the Deal at Breakneck Speeds!

According to Property Solvers’ latest research, buyers looking for quick sales for their properties should opt for semi-detached properties. The study, which analysed 101,126 house sale transactions from June 2022 to June 2023, showed that semi-detached houses sold the quickest, with an average of 150 days from listing to completion.

David Pett, Director of MJP Conveyancing, commented on the data, saying: “The increasing turn around times for conveyancing is making sales a lot slower than they used to be, but the data shows semi-detached houses are still the quickest to sell. Buyers are still keen on these properties due to the space they offer and affordability compared to detached homes.”

The research also revealed that terraced homes came a close second, with 30,009 transactions taking an average of 152 days to complete, while detached homes had the longest average transaction time of 155 days. In contrast, flats and apartments took the longest time to sell, with an average of 176 days.

Property Solvers co-founder Ruban Selvanayagam attributed the slower sale of flats and apartments to the “extra Law Society paperwork and protracted legal enquiries with freeholder/management companies.” However, he did note that some properties sold in as little as two weeks for cash buyers with pre-prepared conveyancing paperwork.

Regardless of the property type, Selvanayagam advised both buyers and sellers to take a proactive role in the sales process and work with a good estate agent, conveyancing solicitor and mortgage broker. With the right people involved, he said, transactions can move in the right direction and close much faster.