Property transaction times remain too long, with more than 30% of sales now taking over 17 weeks to reach exchange, according to Propertymark’s latest Housing Insight Report.
The data shows a market that retains underlying demand but faces constraints from falling stock levels and prolonged completion timescales. For landlords looking to exit the sector or restructure portfolios, the extended timeframes add uncertainty and holding costs to what are already complex decisions.
Buyer demand holds but viewings decline
The report reveals that buyer registrations improved in December 2025, with sales volumes running higher than the same period last year. However, viewings per available property dropped to an average of 1.3, down from previous months.
Average stock levels stood at 6.4 homes per member branch across December. The combination of fewer market appraisals and reduced new instructions is limiting buyer choice and contributing to slower market movement overall.
Nathan Emerson, chief executive of Propertymark, said: “Buyer registrations improved, and sales volumes are higher than a year ago, pointing to underlying demand. However, transaction times remain unacceptably long, with over 30% of sales taking more than 17 weeks to reach exchange, and supply continues to soften.”
Lettings demand outstrips supply
The rental market data paints an equally challenging picture. Average tenant registrations per branch slipped slightly to 63 in December, while available properties for rent edged up marginally to 11.29 per branch.
Void periods remain relatively short, confirming the competitive nature of the rental market. Year-on-year rent increases continue, though the pace of growth has moderated. This aligns with recent conveyancing data showing a cautious market environment.
Rental arrears are increasing, according to the report, with affordability pressures becoming more visible for tenants. Many landlords have expressed concern about forthcoming legislative changes, including provisions within the Renters’ Rights Act.
What this means for landlords
Extended transaction times affect landlords in multiple ways. Those seeking to sell face longer periods of uncertainty, with rental income potentially continuing during marketing but no guaranteed completion date. Landlords acquiring properties face similar delays, affecting portfolio expansion plans.
The 17-week average means a decision to sell today may not complete until late May or beyond. For landlords considering their position ahead of the May 2026 Renters’ Rights Act implementation, timing becomes critical.
Nathan Emerson added: “Greater clarity around rental reform is urgently needed to reassure landlords and prevent further contraction in supply, which would only intensify pressures for tenants.”
The full Housing Insight Report includes regional breakdowns and additional market indicators.
Opinion
Transaction delays are not new, but their persistence despite technological advances in conveyancing is frustrating. The 17-week benchmark suggests systemic issues that piecemeal reforms have failed to address. Landlords planning exits should build substantial time buffers into their calculations.
