More than six in 10 home sales are now taking longer than the normal six-month life of a property search, according to new TwentyEA analysis, raising the risk of extra cost and delay for landlords trying to sell or refinance. The findings underline how clogged transaction times are still dragging on investor exits.
TwentyEA said 60.8% of transactions reaching exchange in 2026 had taken more than six months from the point an estate agent was instructed, up sharply from 36% in 2019. The average purchase now takes around seven months from listing to exchange.
Stale searches can mean renewed legal work, indemnity costs, fresh lender requirements and a greater chance that a sale falls apart late in the process.
Sale agreed to exchange is now the main bottleneck
The data showed listing-to-sale-agreed times have stayed at roughly 2.5 months since 2019. The real deterioration has come after an offer is accepted, with the average sale-agreed-to-exchange period stretching from around three months to nearly four and a half months.
Nick Huntley, director of TwentyEA, said the government’s homebuying reforms could cut delays by shifting transactions towards a more front-loaded, seller-led process with more information available at listing stage.
That will resonate with landlords looking to recycle capital. A sale that drifts for seven months ties up equity, delays purchases and can leave exit strategies vulnerable if buyers or lenders lose patience.
This follows Residential Landlord’s July report on home sales taking 216 days, which already showed drawn-out completions were slowing landlord disposals. The latest TwentyEA figures suggest the same friction is still embedded deeper in the conveyancing chain.
Weak demand and longer chains increase the risk
TwentyEA also said supply was up 2.4% year on year to 1,109,403 properties, while sales subject to contract fell 5.1% to 736,108. Demand dropped across all price bands and regions, with flat sales down 9.1% year on year.
That mix matters for landlords because weaker buyer demand does not just affect price. It also increases the chance that a delayed transaction needs to be renegotiated or remarketed.
Residential Landlord has previously covered how higher stock levels are giving buyers more bargaining power. Combined with slower legal progression, the latest data points to a disposal market where time is becoming as important as price.
The figures were highlighted in new reporting on TwentyEA’s latest market findings.
Implications for landlords planning exits
Investors considering a sale may need to front-load paperwork, check search validity early and build extra time into refinancing or onward purchase plans. In a slow chain, speed now carries its own value.
Landlords holding tenant-occupied stock will be especially wary. A long conveyancing tail can complicate notice timing, rental planning and any attempt to line up a clean exit under current possession rules.
Opinion
Much of the market still talks about price first, but landlords should be watching elapsed time just as closely. If conveyancing drift keeps eating through search validity, the cost of getting out may rise even before any buyer asks for a discount.
