Transaction time slashed by 30% on December completions:
Without added new technology, just great communication and a willingness by everyone involved in the chain, average time from Sold stc to exchange of contracts reduced from an average 14 weeks to an average of just 10 weeks in December.
The trend in recent times has seen transaction periods become longer taking around 14 or 15 weeks to reach an exchange of contracts from date a sale was agreed. Perhaps more urgency was required as pent up demand was wanting to get on with it and be in by Christmas? Perhaps it was the need to beat the LTT deadline in March? or Perhaps this demonstrates when the desire is there, it can be done - especially if co ordinated by a team of property professional at the hub of the transaction.
Williams & Goodwin The Property People Ltd with office in North West Wales noticed the pre Christmas rush this festive season. Despite increased numbers of transactions the time taken to exchange had reduced on the December transactions.
“When completing the statistics, we have taken out our auction lots as they typically go from on the market to sold & exchanged within four to six weeks and we have taken out our new home sales as they typically have a longer period while waiting for the property to be built and we are delighted that some of our customers have been able to move quicker in these challenging times - we hope the trend will continue into 2021”. Commented Melfyn Williams from the Llangefni office of the four office firm.
Tim Goodwin from the Bangor office added:
"Please don’t hesitate to contact your local office listed below for a free “virtual” or “physical” overview, with a smile and no obligation, no paperwork, no fuss in a safe manner".
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