Why Does It Take 129 Days to Move Into a Home in Reading?

Buying or selling a home is one of the most significant financial transactions people make. Yet, in England and Wales, the process remains frustratingly slow. Once a sale is agreed upon, it takes an average of 118 days—nearly 17 weeks—for legal completion in the UK. However, in Reading, this timeline extends to 129 days on average.

To put this in perspective, property transactions in the 1990s typically took 7-8 weeks, while in 2007, it was just over 10 weeks. Today’s delays are making the system feel increasingly outdated, particularly in an era where technology should be making processes faster, not slower.

Additionally, nearly 1 in 4 (23.94%) of all UK homes that have a sale agreed upon (Sold STC) fall through before contracts are exchanged. So, why has buying and selling property in Reading become so slow?

Key Causes of Delays in Reading Property Transactions

1. The Outdated Conveyancing Process

Unlike Scotland, where much of the legal work is completed before an offer is accepted, in England and Wales, conveyancing only begins after a sale is agreed upon. As a result, critical information is often not gathered until weeks or even months into the process.

The time taken between pre-contract enquiries and receiving replies has more than doubled since 2007, increasing from just under four weeks to nearly nine weeks. Despite advancements in technology, conveyancing remains slow and complex, with no clear improvement in timelines.

2. Solicitor Workloads and Efficiency

Many solicitors manage high caseloads, leading to delays in responding to enquiries and handling paperwork. The time taken from instructing a conveyancer to receiving a mortgage offer has risen from five weeks in 2017 to nearly nine weeks today.

3. Chain Dependencies

A property chain is one of the biggest risks in the buying process. If just one buyer or seller pulls out, it can cause multiple transactions to collapse. The time for sales instruction to exchange has nearly doubled, from 71 days (just over 10 weeks) in 2007 to 118 days (almost 17 weeks) today.

The only positive? Property search processes have become more efficient, reducing from over two weeks to approximately 1.5 weeks.

4. Changing Market Conditions

Longer transaction times increase the chances of a buyer or seller’s circumstances changing before completion. Mortgage offers expire, interest rates fluctuate, and job relocations occur—causing deals to fall apart. Gazumping (when a seller accepts a higher offer after initially agreeing to a sale) and gazundering (when a buyer lowers their offer at the last minute) are also more common in a slow-moving market.

How Long Does Sales Conveyancing Take in Reading?

Before addressing that, it’s currently taking 58 days (just over 8 weeks) on average to find a buyer for a home in Reading (compared to the national average of 74 days).

Once a sale is agreed, it takes an average of 129 days to complete the process in Reading. However, the timeline varies depending on property type:

• Flats in Reading: 148 days

• Houses in Reading: 125 days

• Bungalows in Reading: 114 days

These figures are in line with national averages.

How to Speed Up the Sales Process in Reading

1. Gather Information Upfront

Sellers in Reading can significantly speed up the process by preparing key documents early:

• Order local authority searches from Reading Borough Council as soon as the home goes on the market.

• Complete the Property Information Form and Fixtures and Fittings List in advance.

• Gather any guarantees, warranties, and building regulation approvals upfront.

2. Choose a Proactive Reading Solicitor

Not all solicitors operate at the same speed. Buyers and sellers should choose a solicitor based on efficiency, not just price. Seek recommendations from experienced estate agents (such as Bespoke Estate Agents) who know which firms consistently process transactions promptly.

A proactive solicitor who gathers documents early, communicates clearly, and follows up without being chased can shave weeks off the process. If you need solicitor recommendations in Reading, feel free to reach out. Bespoke Conveyancing | My Bespoke Agent

3. Tailor Your Selling Strategy

If speed is a priority, sellers should explore alternative methods such as property auctions. Traditional auctions and the newer ‘modern method of auction’ result in faster completions and eliminate much of the uncertainty associated with drawn-out transactions. Bespoke Auctions | My Bespoke Agent

4. Consider Using an Exclusivity Agreement

Buyers and sellers can reduce the risk of gazumping and gazundering by signing an exclusivity agreement or reservation agreement, committing both parties to proceeding in good faith within a set timeframe.

Looking to the Future

The long transaction times in Reading remain a persistent issue, worsened by outdated processes and inefficiencies in the legal system. While there’s no quick fix, taking a proactive approach—by preparing documents early, choosing the right solicitor, and considering alternative selling methods—can help minimise delays and improve the likelihood of a smooth transaction.

If you’re planning to buy or sell a home in Reading, expert guidance and forward planning can make all the difference. If you have any questions about the Reading property market, feel free to contact me—no obligation, no cost, just sound advice. Request a Valuation | My Bespoke Agent