How quickly do property sales take?

The time that a property takes to tell is dependent on a number of factors. Some of which are external and outside of the vendor and agents control. These things are changeable over time. So it depends on the prevailing conditions when you come to the market with your property. A very good example of this is when there has been a change in the stamp duty rules. Even though your property may not fall into a price band that is directly affected, changes to the SDLT (Stamp Duty Land Tax) rules. Other wide economic factors will also impact the whole market, such as interest rate changes and inflation. Over the last ten years we have seen some major challenges and occasionally an unexpected bull market. The UK's departure from the EU has had an impact on the economy, there is little doubt about that and initially transaction volumes dropped significantly while the world held it's breath. Conversely the Covid 19 pandemic had the surprisingly opposite effect, with prices rallying soon after the second lockdown. 

 

2025 has seen a market slow down in East Yorkshire, mainly due to the stamp duty changes and general economic uncertainty surrounding international trade wars. Typically a property should attract a buyer within eight to twelve weeks if it is priced right. However, at the moment it is hard to say and even properties that are priced to sell may hang around a while longer than this. At Link Agency we do not put pressure on our vendors to reduce asking prices, all that we can do is ensure that they are informed about market conditions and let them decide on their preferred course of action.