Latest data shows house sale transactions are taking an average of 132 days to complete across Bolton over the last year

Latest data shows house sale transactions are taking an average of 132 days to complete across Bolton over the last year, though it’s quicker in Bury.

Some of the quickest areas to sell a property at the moment include Bury (BL9), Bolton (BL4) and Bury (BL0).

Property Solvers has published data that shows that it is taking an average of 18.96 weeks from a property coming to the market in Bolton to the sale completing but that it has been quicker in Bury over the last 12 months.  Their data comes from over 619 property sales across Bury and Bolton between February 2023 and February 2024.

The statistics track the moment a property is listed on the UK’s leading property portals to the point it’s marked as officially ‘sold’ at the HM Land Registry.

Homes were selling the slowest in the Bolton (BL7), Bolton (BL6) and Bolton (BL1) postcodes (also sampling a minimum data set of 10 property sales).  In the bottom 5 postcodes, the data showed that properties were taking 140.60 days (20.09 weeks) to sell on average.

Andrew Cardwell, Managing Director of Cardwells Estate Agents Bury and Cardwells Estate Agents Bolton was mindful of the impact that the Bolton Council crises in supplying Local Area Searches in 2023 has had upon these figures

“These timescales for the completion of sales of property in Bolton unfortunately are not a surprise. During the course of the last 12 months there has been a significant delay with Bolton council, preparing the local area searches which sometimes could take beyond four months alone. The searches provide essential Information for buyers and their solicitors and also any lenders involved in the process. Therefore they are an integral part of the conveyancing process and when the information is not available, it inevitably slowed the process down. This has unquestionably contributed to some of the delays and these long timescales that are reported. 

Thankfully, the worst of that is now well and truly behind us and Bolton Council are operating at a similar level to other Councils, such as Bury, who have been performing well according to this research.  The completion times in all Bolton areas are improving, and I would expect these figures to be notably shorter for the coming 12 months. The conveyancing process in Bury has been a much more fluid, and quicker time scales have been enjoyed, as they have not had the same concerns and problems that Bolton Council have faced. 

It’s interesting that BL4 and BL3 has shown to be the fastest times in Bolton from the beginning of marketing to sale completion times.  This is perhaps indicative of the popularity of the property in these postcodes, where sales can be agreed promptly and perhaps that they may not of been too heavily encumbered by property sale chains.  There is a good selection of terraced and semi detached properties which will make up a proportion of the sales listed in BL4 and BL3 in this data.  During the last year, we agreed some sales within in these postcodes within just a matter of days of them coming to the open market to buyers who did not have a related sale.  If the sales are agreed swiftly they then would be able to start the conveyancing process sooner.  Also if a proportion of the properties were purchased by cash buyers, they may of chosen not to wait for the local areas searches, or could have taken an Insurance policy to mitigate the risk.  Of course the more properties in a chain, the more likelihood that each sale would have been hindered by the local area search delays at Bolton Council.  So although BL7 may show slightly longer times from marketing to completion in this data, this could be impacted as there are likely to of been a significant number of detached properties in the data, and they are more likely to be in a chain.  In a chain, all related sales in the chain needed to wait for the Local Area Searches to be completed before the chain could progress to completion.  So in essence the sale of these properties could have been even more impacted by the delays at Bolton Council which would have slowed down the speed that they can be completed. It is in no way a reflection of the area or the properties in the area, it is indicative that they are likely to be simply the most effected by the delays faced in the last twelve months or so.”

Cardwells Estate Agents Bolton and Cardwells Estate Agents Bury are available if you would like an up to date property valuation. We can provide an accurate valuation of your property for free and that may be a great place to start the process of potentially selling your property in Bury or Bolton, just put a few details in this form and we will go from there: https://www.cardwells.co.uk/sell-with-cardwells/

If you are considering selling a house in Bury be it through auction or traditional methods, letting a property in Bury, or selling a commercial property in Bury for example, Cardwells Estate Agents Bury are your ideal starting point for all your residential and commercial property needs.  Just call Cardwells Estate Agents Bury on 01617611215, email; [email protected] or visit www.Cardwells.co.uk or pop your details into this form and we will call you back https://www.cardwells.co.uk/sell-with-cardwells/

If you are thinking of selling a property in Bolton via auction or a more traditional method, letting a house in Bolton, selling commercial property in Bolton, letting a flat in Bolton, letting a shop on Bolton, selling a house in Bolton for example, then Cardwells Estate Agents Bolton are your perfect Estate Agents in Bolton.  Cardwells Estate Agents Bolton 01204381281, email: [email protected] or visit us at www.Cardwells.co.uk or pop your details into this form and we will call you back https://www.cardwells.co.uk/sell-with-cardwells/

Cardwells can introduce you to independent financial advisors who can help you find the best possible mortgage product for your upcoming move or remortgage.  Just fill in the form here https://www.cardwells.co.uk/mortgages-financial-services/ and we will pass your details onto them.

Cardwells are the market leading estate agents in Bolton and Bury and are here to work for you and get you the best possible price for your home.

Cardwells Estate Agents Bolton:
01204381281
[email protected]
www.Cardwells.co.uk

Cardwells Estate Agents Bury
01617611215
[email protected]
www.Cardwells.co.uk

https://www.cardwells.co.uk/sell-with-cardwells/