Conveyancers Transacting Faster - Median Time to Complete Reduced by 9% Year-on-Year

As of January 2024, the median time to exchange was 9% lower than the previous year. In January 2023, the figure sat at 135 days (4.4 months). This has dropped by a full 12 days, to 123 days or 4.0 months) in January 2024. Great news for homemovers who are eager to get the keys to their new home sooner and a fantastic sign for conveyancers who often get a bad rap for slowing down transactions.

Is the drive for upfront information beginning to take effect? Are more conveyancers embracing technology to reduce admin? Has client-conveyancer engagement improved? We will continue to monitor the trend with interest in the coming weeks and months to see if this figure continues on its downward trajectory. 

Richard Hinton of conveyancing leads provider TwentyConvey added: “There’s obviously a seasonality to these numbers, but year on year this is impressive – and it supports the impression of a market finding its feet again.”