New market insight from up-front information platform, Home Sale Pack, reveals that the conveyancing process takes so long that the average home mover could fly to the moon and back more than 25 times in the time they’ll be waiting for conveyancing to finish. As a result, 370,000 movers are now set to waste their summers stuck in a state of conveyancing limbo. Home Sale Pack analysed how long the conveyancing process currently takes in the UK*, and how many movers are now about to enter the conveyancing journey*. The research then goes on to analyse what other things movers could instead be doing with the time they’re spending waiting for conveyancing to finish. How long does conveyancing take? Conveyancing is the legal side of buying and selling a home with the ultimate aim of first reaching the exchange of contracts, and then completion of sale. The process takes a long time, currently averaging 154 days, or 22 weeks. And while the process is led by a conveyancing solicitor,  it requires regular input from buyers and sellers who need to be available to provide information, sign documents, and help push their sale along. This means that, for those 154 days, movers cannot afford to be absent or out of contact for any length of time because this can lead to significant delays on an already lengthy journey. Therefore, anybody who is entering the conveyancing process right now is looking at an entire summer spent in a state of conveyancing limbo, unable to go on holiday in fear that it will cause delays. 370,000 home sellers stuck in limbo this summer Home Sale Pack estimates that this is the scenario faced by almost 371,000 movers this summer, based on the fact that there are currently an estimated 370,725 properties on the market that are Sold Subject To Contract (SSTC). While some of these may complete sooner, rather than later, this figure is only likely to climb as market activity continues to build momentum following a spring surge. What else can you do with 154 days? So with 154 days of nothing to do but wait, what else could movers be doing with their time if the conveyancing process wasn’t so painfully drawn-out? In 154 days, you could fly from London to Sydney 168 times. You could take one-and-a-half around the world cruises, drive around the world almost 7.5 times, or walk the length of Britain – from Land’s End to John o’ Groats – nearly twice. You could also take 11 fortnight-long summer holidays, or fly to the moon and back – a round trip that takes approximately six days –  almost 26 times. Ruth Beeton, Co-Founder of Home Sale Pack, says: “It’s absolutely inexcusable that in this day and age the conveyancing process takes 22 weeks. There is no good reason for this. If the process was dealt with the efficiency that modern technology now enables, the whole process can take as little as 24 hours. In other words, a seller can accept an offer on Monday and complete the sale before going to bed on Tuesday. So yes, 22 weeks is inexcusable. Instead of wasting your summer in conveyancing limbo, too scared to even go on holiday in fear of causing a delay in the process, make sure you work with an agent who utilises upfront information packs to speed up your sale. That way you can get the contracts signed and the sale completed quickly, leaving you free to enjoy the summer with absolute freedom and peace of mind.” Data tables and sources Full data tables and sources can be viewed online, here Building, Design & Construction Magazine | The Choice of Industry Professionals

The latest research by Zero Deposit, the tenancy deposit alternative, has revealed that while home owners are upping sticks and moving more often, the time spent in rental properties by PRS tenants has increased by 12% over the last decade, highlighting the important role landlords play in today’s property market.  Zero Deposit analysed the latest figures from Gov UK English Housing Survey looking at the number of years spent in a property for each segment of the market and how these lifestyle trends have changed over the years.  The analysis shows that when it comes to home owners, we’re moving more, spending an average of 9.2 years in a property (mortgage buyers). This is the second lowest amount of time spent in the last 10 years with the exception of the 2020-21 pandemic year (8.7) and some way below the average of 9.9 years seen over the last decade.  What’s more, it marks a 13.9% reduction versus a decade ago, with homeowners remaining in their properties for 1.5 fewer years today versus 2012-13.  However, when it comes to tenants in the private rental sector the opposite trend has emerged over the last 10 years.  The average PRS tenant currently spends 4.3 years in their rental home. While this has reduced slightly on an annual basis, down from 4.4 years, it sits 12.1% higher than a decade ago when tenants rented for an average of 3.8 years.   It also sits higher than the average of 4.1 years seen over the last decade as a whole, highlighting the importance of the private rental sector when it comes to providing long-term accommodation for those who haven’t made the transition to home ownership.  Sam Reynolds, CEO of Zero Deposit commented: “Over the last ten years, tenants have grown increasingly reliant on the private rental sector due to the high cost of home ownership and we’ve also seen renting as a lifestyle choice result in tenants staying put for longer.  It’s also fair to say that, with renting itself becoming more expensive, many tenants would rather stay put once they’ve secured a rental property, rather than foot the costs of moving while their original deposit is still being held by their previous letting agent.  While the build to rent sector has looked to provide a solution to the requirement for longer term tenancies, it’s PRS landlords who are vital to the sector and are still shouldering the majority of the weight when it comes to the provision of these properties.  With the Renters Reform Bill also set to provide further security to tenants with respect to tenancy lengths and eviction powers, it’s likely that the time spent in the same rental property will continue to increase over the coming years. This highlights just how vitally important landlords are when it comes to the rental market echo system and why we must encourage investment into the sector, not deter it.  Data tables and sources Data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals

The latest data release by estate agent comparison site, GetAgent.co.uk, has shown that while the average agent across Britain is listing 15 properties for sale, this measure of current market activity ranges between 10 to 25 from one major city to the next.  GetAgent analysed its own internal data* looking at for sale stock listed across 30 British major cities over the last six months before comparing this to the number of unique agents to have listed this stock, to reveal the average number of homes currently on the books of agents within these major cities.  The research shows that over the last six months a total of 226,120 homes have been listed for sale across the 30 major cities analysed by GetAgent. These homes have been listed by 15,046 unique agents, meaning that on average, these agents are listing 15 properties each.  Of course, this current gauge of buyer market activity differs drastically when breaking the market down from one city to the next.  Plymouth is home to the nation’s busiest estate agents at present, where 4,211 homes have been listed in the last six months by 167 individual agents. This means that those agents who have bolstered their stock levels over the last six months are listing an average of 25 properties.  Agents in Newcastle aren’t far behind in this respect. While the city has seen more than three times the number of new listings over the last six months when compared to Plymouth (12,652), these homes are being marketed by 550 unique agents, meaning that on average, these agents are listing 23 properties each.  Across both Bristol (22) and Norwich (20), agents have listed 20 or more properties in the last six months, while in Glasgow, Liverpool, Cornwall and Nottingham they’ve averaged 18 listings.  In contrast, agents in Bath, Bolton, Chester and Bradford have seen the most muted level of market activity. Over the last six months, those agents to have listed homes for sale have done so at a rate of 10 listings each.  Co-founder and CEO of GetAgent.co.uk, Colby Short, commented: “It makes sense that agents in cities with lower property values and fees need to sell more properties to survive as a business. In contrast, agents in cities like London can get by with fewer completions, as each one generates a large fee. A good exception to this rule seems to be Bristol, which has relatively high property values, yet the average agent still lists 22 properties every 6 months. However, at the other end of the scale are Bolton and Bradford, where not only are the average fees very low, but the average agent also lists only 10 properties every 6 months. Obviously, this is just an average, and many agents will be doing better than this, but it does demonstrate how tough the market is in some locations. Hopefully, agents in these areas have strong Lettings departments.” Data tables and sources Data tables and sources can be viewed online, here. Building, Design & Construction Magazine | The Choice of Industry Professionals

As over 12,000 delegates gather in Leeds this week for UKREiiF – the biggest property conference in the country – new research shows that younger people in Leeds are keen to stay in the ‘vibrant and friendly’ city but are worried about being priced out of the area because of the lack of affordable homes to rent or buy. The research – ‘Get cracking and build’ – carried out by digital communications experts, Shared Voice, and Just Build Homes, of over 350 18-44 years olds living in Leeds shows: The price many were willing to pay for a realistic chance of owning their own home within five years was high with four out of ten people saying they would forgo having children. Two-thirds said they were willing to give up foreign holidays and social activities to be in their own home. There was a lot of enthusiasm for life in Leeds among this age group who praised good public transport links to shops, parks, and other amenities as well as diverse cultural and nightlight experiences, a vibrant sense of community, friendly people, and excellent job opportunities. Wyn Evans, a Founding Director of Shared Voice, said: “This level of support for housebuilding is extraordinary and demonstrates that there are millions of people out there who are supportive of housebuilding.  “This younger generation do not normally engage with the planning process and developers need to be asking why traditional planning communications are failing to reach this large audience. “It also demonstrates why Keir Starmer and the Labour Party have come out so strongly in support of new homes – there are votes in it, lots of votes.” Millie Dodd, Spokesperson for Just Build Homes, added: “Our findings in Leeds reflect the conversations Just Build Homes is having with people affected by the housing crisis all over the country. The cost of housing is continuing to rise and is becoming out of reach for many because there are simply not enough homes being built. We just need to ‘Get cracking and build’.” Shared Voice and Just Build Homes will be teaming up with planning experts Quod, to launch the survey findings at the UKREiiF conference, on Tuesday 21 May at 3pm.  Emma Lancaster, a director at Quod’s Leeds office, said: “This report comes at a critical time. The Council is in the early stages of its work on Leeds Local Plan 2040, grappling with the question of how it should meet its housing needs over the next Plan Period. “Significant progress in housing land supply and delivery has been made in Leeds in recent years, but this report confirms that not all parts of the city are benefiting, and that a real step change is required if the Council is going to meet its identified needs for affordable housing and achieve its Best City ambition.” Shared Voice was launched in April 2024 to create a brand-new offer for the planning communications market, aimed at helping connecting developers with the silent, pro-housing majority for the first time. Shared Voice provide a single communications solution from pre-application to Committee. The offer is unique because it focuses on finding genuine supporters and making that the focal point of communications at every stage – rather than spending time and money trying to persuade objectors. It is challenging the traditional model of exhibitions and behind the scenes lobbying, in favour of leveraging the power of the silent supportive majority. Shared Voice is the team behind Just Build Homes, a YIMBY brand that has consistently and successfully mobilised thousands of people across the UK to support planning applications for new housing in their own area. A full copy of the report can be obtained here: “Get cracking and build” – Housing attitudes of 18-44 year olds living in Leeds – Shared Voice Building, Design & Construction Magazine | The Choice of Industry Professionals

Leading deposit alternative provider flatfair has announced a major new partnership with Dandara Living, one of the UK’s leading independent property development firms and a renowned name in the Build to Rent sector. Dandara joins an impressive list of well-known players in the industry who are already using flatfair’s deposit platform, including Greystar, Native Residential and urbanbubble. With flatfair Deposits, residents have the option of flatfair’s popular deposit alternative alongside a traditional deposit. At a time when rental costs and therefore deposits, are reaching new highs month-on-month, thousands more residents now have the option to significantly reduce their upfront move-in costs. flatfair Deposits also saves agents and operators valuable time and improves their compliance by not having to manually register traditional deposits themselves. Gary Wright, CEO of flatfair, emphasises the company’s growing dominance in the Build to Rent sector as evidence that agents and operators are increasingly embracing flatfair’s deposit alternative, saying “We are delighted to be partnering with such a renowned name in the industry, and the growing popularity of flatfair Deposits, not just in the Build to Rent industry, is a mark of how beneficial and important our product is to all parties. Although deposit alternatives are still relatively new to the industry, agents and Build to Rent operators are increasingly recognising the multitude of benefits that our deposit platform offers. Providing a choice of deposit options to customers is now a necessity, reflecting the evolving needs of the market.” Sam Smith, Operations Director at Dandara Living said “We have been looking at the deposit alternative product offering for some time, and we have watched this product mature over the last few years and become a proven alternative that today’s renter wants to see. We are delighted to be partnering with flatfair on this new offering, and this further enhances our focus on the resident experience.” Building, Design & Construction Magazine | The Choice of Industry Professionals