The Q3 2023 edition of Landmark’s Residential Property Trends Report is live. Within the report, you’ll find the latest insights into the residential property transaction pipeline from listings to SSTC/SSTM, and from searches to completions. 

Whilst supply is holding up, subsequent pipeline metrics such as SSTC / SSTM, searches ordered and completions remain low.

Key findings from Q3 include:

• Listing activity is up in England and Wales – 1% higher over Q3 ’23 vs Q3 ‘19.
• Completions dropped in England and Wales in Q3 ’23 – 35% lower than Q3 ‘19.
• In Scotland, listings are 4% up on Q3 ’19, but completions are subdued by 18% vs Q3 ’19.
• Overall, supply is still struggling to progress through the pipeline.

Download the Cross Market Activity edition for England, Wales and Scotland, and view the latest residential property market data for Q3 2023.

We hope you find the report helpful.

The Q2 2023 edition of Landmark’s Residential Property Trends Report is now live. Within the report, you’ll find the latest insights into the residential property transaction pipeline from listings to SSTC/SSTM, and from searches to completions. 

The report found that whilst supply is relatively strong, demand volumes are struggling to progress through the transactional pipeline.   

Headlines from Q2 include:
•    Supply is up in England and Wales – with listings 12% higher in June ’23 vs June ‘19
•    Completions dropped in England and Wales in Q2 ’23 – 39% lower than Q2 ‘19
•    In Scotland, the picture is marginally better but buyers are similarly constrained  
•    Overall, demand volumes struggle to progress across Great Britain as high interest rates, restricted mortgage availability and squeezed affordability continue to drive an uncertain market.

Did you know that the average time to buy a property in England is 133 days That’s 80% longer than in 2007. 

With transaction times lengthening, we delve into 15 years’ worth of data to uncover what’s really holding up the home-buying process.

Including sector-led perspectives from estate agency, conveyancing, surveying and lending, our Property Transactions Report investigates why buying a property in England and Wales is taking so long – and what we can do to unlock the value in the buying chain.

Our latest Property Transactions Report addresses some of the key questions facing the sector right now, including: 

• What’s the average time from instruction to completion?
• Where are the bottlenecks in the home-buying process?
• What’s the average turnaround time for a valuation?
• How can technology unlock the value in the transactional chain? 

The Q1 2023 edition of Landmark’s Residential Property Trends Report is now live. In it, you’ll find summaries of the last quarter’s residential property transaction pipeline from listings to SSTC/SSTM, and from searches to completions. 

The report shows partial signs of market recovery, with supply strengthening throughout the quarter, following the uncertainty of Q4 2022 – but overall volumes remain subdued.  

Headlines from Q1 include:

• Supply is up in England and Wales – from 10% lower in January ’23 vs ’19 to 6% higher in March ’23 vs ’19.
• Completions slowed in England and Wales in Q1 ‘23 – down 10% on Q4 ’22 volumes, likely due to the low SSTC figures at the end of Q4 ‘22.
• A slight uplift in volumes across all stages of the pipeline was seen in Scotland 
• Consumers’ ability to buy remains a crucial factor in influencing market trajectory after Q4 uncertainty

Download the Cross Market Activity edition for both England, Wales and Scotland, and review the latest data from the UK property market during the first quarter of 2023. 

We hope you find it useful.

The latest report from our parent company Landmark’s Market Research analysis focuses on how the residential property sector is embracing automation and deriving benefits from digital transformation. 

It’s clear, being able to surface more insights earlier can speed up transactions and deliver more buyer certainty. Landmark asked over 100 residential conveyancers to share their experiences of going digital and moving to a business model that automates more key systems.

Discover: 

• The percentage of firms committed to automation and increasing their IT budgets
• The biggest challenges to digital transformation – what’s holding business back
• Which aspects of the sales process might benefit most from more automation
• The percentage of businesses that say automation makes them more profitable  

Landmark Information Group collects, manages and delivers data across every part of the property industry’s value chain. The breadth of our work means we can undertake a wide range of surveys just like this one, surfacing key insights on subjects such as automation, Home Movers’ Experiences, and Climate Change.

The guide is available for download now.  

We have been made aware that the estimated turnaround time for regulated Local Searches in the Bolton Metropolitan Borough Council area is currently 40 working days.

This is due to a technical problem the council have with an internal system, which is causing significant delays. The estimated turnaround time for official Local Searches in this area is currently 85 working days.

If you do have an urgency with any particular case, or if unexpected delays have put the transaction at risk of collapse, we can support you with OneSearch Express, our indemnity policy which provides a data-rich alternative to standard No-Search Insurance, as it also includes a comprehensive report pertinent to a client’s property. Typically returned in just 24-48 hours, Express provides the majority of data (over 70%) that you would typically obtain from Local Authorities, meaning you and your client can complete quickly, and with more confidence.

Our clients have been using Express since 2015 for instances where search delays have put transactions at risk of collapse, and our claims record is exemplary: there are no claims resulting from our Express searches. This is due to the accuracy of our data, and triple quality check methodology. No other company exists with our dataset, comprised of real-time and historical CON29 data.

If you would like more information about OneSearch Express, please email intro@onesearchdirect.co.ukor call 01782 433270.