Homeowners in Watford take an average of just over 17 weeks to sell their property, figures show.
Professional house buying firm Property Solvers’ has analysed over 392 property sales across the town 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.
In the WD5 and WD18 postcodes, out of the 41 tracked properties in the 12 months to March 2021, home sellers were waiting 139 days on average from listing to completion.
Properties were selling the fastest in the WD6 postcode - 54 homes in this area took 109 days to sell on average.
It means that on average, it takes 17.79 weeks to sell a property in Watford.
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 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.”
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