Analysis: UK homes taking far longer to sell as buyer confidence falls

Homes across large parts of the UK are taking substantially longer to sell as buyer confidence weakens, with some areas recording sales times up to 68% slower than usual, according to fresh analysis of property portal data.

Zoopla compared the number of days from a listing appearing on its website to the point it was marked "sold" or "sold subject to contract" between April and June against the five-year average and found a marked slowdown. Property data consultant Twenty EA reported the overall average time to sell has risen to about 78 days, up from 42 days in 2022.

The slowdown has been uneven across the country, with markets in parts of Devon and along the south coast among those hit hardest. Sellers in those areas have seen the gap between current and typical sales times widen the most, according to the Zoopla analysis published for Money Mail.

Estate agents and industry commentators say the shift has been driven by a drop in buyer appetite following sharp rises in mortgage rates in recent years and broader cost-of-living pressures. Sellers have reported fewer viewings, slower enquiry rates and a reduced flow of offers, leaving some listings on the market significantly longer than the pre-rate-hike period.

Zoopla's method measures the period from initial listing to when a property is updated as sold on its site. Comparing that metric for the most recent quarter with a five-year baseline highlights the extent to which markets that previously moved quickly have decelerated.

The rise in average selling times comes after a period of intense activity during the pandemic and its aftermath, when low interest rates and high demand shortened selling cycles. The reversal in recent years has been notable: Twenty EA's figure shows the time to sell has roughly doubled since 2022. That shift reflects both lower buyer demand at current price and finance levels and a recalibration of seller expectations.

Longer time on market can have several consequences. Properties that remain listed for extended periods often prompt price adjustments, and some sellers are reported to be offering incentives such as contribution to buyer costs or flexible completion dates to stimulate interest. Industry sources say realistic pricing, improved presentation and responsive marketing remain among the main levers available to sellers trying to reduce time on market.

The regional variation in selling times underscores how local market dynamics are interacting with national economic conditions. Coastal and rural areas that benefited from demand shifts during earlier years of the pandemic now appear more exposed to slowing activity, while some urban markets have shown more resilience.

Market participants caution that the picture can change quickly if interest rates or mortgage availability shift. Lenders' pricing and borrower affordability remain central to demand, and small moves in policy or retail rates can influence buyer behaviour. Analysts monitoring listing-to-sale intervals say the next quarterly datasets will be closely watched for signs that demand is stabilising or deteriorating further.

For prospective sellers, the current environment means allowing more time for a sale and setting expectations that offers may come later than in recent years. For buyers, longer selling cycles may increase negotiating scope in some areas but will depend on local supply and demand balances.

Zoopla and property consultants will continue to publish regular updates on listing performance as the market adjusts to evolving economic conditions. The recent data highlights the importance for both buyers and sellers of monitoring local indicators as national averages mask significant regional differences.