Time to exchange edges higher

The average time to exchange in the UK is now 123 days or 4.1 months, data from property analytics company TwentyEA has revealed.

This is 1.8% or two days more than in 2024.

The longest time to exchange is in Outer London and the East of England at 4.6 months, closely followed by Inner London at 4.2 months.

The North-East is the best performing region in England at 3.6 months, while Scotland with a different legal system, is only 2.9 months – the shortest time of all UK regions.

The chart below gives a breakdown of the time to exchange in each UK region for the year to date.

UK Region Time to exchange in 2025 (months)
Scotland 2.9
Northern Ireland 4.1
North East 3.6
North West 4.0
Yorkshire and The Humber 3.8
East Midlands 4.0
West Midlands 3.9
Wales 3.8
East of England 4.6
Outer London 4.6
Inner London 4.2
South East 4.5
South West 4.3

The chart below demonstrates how the time to exchange has crept up since 2019.

Year Time to exchange (days) UK Times to exchange (months) UK
2019 91 3.0
2020 95 3.1
2021 109 3.6
2022 130 4.3
2023 121 4.0
2024 121 4.0
2025 123 4.1

Katy Billany, executive director of TwentyEA, said: “Our 2025 data shows that ‘time to exchange’ continues to vary significantly by region, from around 2.9 months in Scotland to 4.6 months in Outer London and the East of England.

“This underlines how local market conditions and legal-system differences remain major drivers of transaction speed. Nationwide, the average has crept up over recent years (from roughly 3.0 months in 2019 to about 4.1 months in 2025), confirming that the trend towards longer waits to exchange contracts is far from resolved.

“With many buyers waiting four months or more just to exchange, this extended timeline puts pressure on affordability, adds uncertainty for sellers and buyers alike, and magnifies the risk of fall-throughs, especially when interest rates or economic conditions shift part-way through the process.

“In our opinion, the MHCLG’s consultation, focussed on reducing transaction timelines and costs for buyers, especially first-time buyers cannot conclude fast enough. As a group, TwentyCi has committed to Project 28 which aims to slash the time from ‘sale agreed’ to exchange from roughly 100+ days down to just 28, a major step toward reliability, transparency and fewer failed sales.

“With this growing focus and industry momentum, we’re hopeful that steps toward meaningful change will begin to take shape as we move into 2026.”

 

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2 Comments

  1. OpulentG

    And most of the time there is NO reason for the delays other than Solicitors who do not pick up the phone to each other to progress the sale forward. – Yes some will say that they are overworked and not paid enough but come on. there is someone’s home at risk.

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  2. Rob Hailstone

    I agree that should happen more often, but if only it was that simple.

    There are so many other reasons for the delays, including:

    Help to Buy
    CQS
    Additional Enquiries
    Grant of Probate Delays
    Source of Funds
    AML
    Building Safety Act
    Rentcharges
    Management Companies
    Lender Requirements
    New Builds
    Shared Ownership
    Lack of chain information
    Poor communication between agents, conveyancers and others
    Etc

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