House sales are taking about 17 weeks to complete across Bognor Regis

House sales transactions across Bognor Regis are taking about 17 weeks since the beginning of the pandemic, the latest data shows.

Tuesday, 18th May 2021, 3:24 pm

Sellers in the PO21 and PO22 postcode areas are waiting on average 119 days to complete their sales.

Professional house buying firm Property Solvers’ speed of sale tool has revealed the long wait.

Updated monthly, the latest dataset analyzed over 189 property sales across the area between May 2020 and May 2021.

House sales are taking longer

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 PO21 postcode, out of the 93 tracked properties in the 12 months to May 2021, home sellers were waiting 119 days on average from listing to completion.

In the PO22 postcode, 96 home sellers were waiting 103 days from start to finish to sell their properties on average.

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.”