The amount of time taken to sell a home has fallen despite fears of a downturn in the property market, according to LMS.
However, the number of cancelled sales is on the rise due to finance issues and fears about the future of the housing market. LMS’s latest Market Efficiency Monitor found the average time taken to sell a property in the first quarter of 2008 was 55 days, down from 56 days in the same period last year. However, Dominic Toller, director of marketing and new business at LMS, says the time taken to sell a property is still too long. “The length of time it takes for a property to sell is still too high. One of the key reasons being that in a slowing market you tend to find property chains ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
