Guide to how long the UK house buying process takes?
Are you wondering how long it takes to purchase a house in the UK? Well HSBC’s chief UK economist Liz Martins and her team have the answer! HSBC has recently produced a 6 step property transaction guide which shows the average house purchasing process and how long each stage takes on average. This handy guide to the house buying process also shows at what stage each price index take a measurement.
HSBC’s House Purchasing Process
According to HSBC the house buying process from start to finish on average should take just over 6 months (27 weeks to be precise). The guide shows that the longest stage of the house buying process is actually finding the right house in the first place using sites like Rightmove. Typically this stage according to HSBC takes an average of 10 weeks until a person makes a verbal offer for a property.
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