The Telegraph - Home buyers battle record 135-day delays as property market breaks down
The property market is grinding to a halt as buyers and sellers grapple with the record wait times.
Increased bureaucracy, tax changes, high demand and the strange side effects of extreme house price growth mean the process of buying a home has become almost impossible.
In February the average home purchase took 135 days from instruction to completion, according to the Landmark Information Group, a property data company. This was only three days faster than in June 2020, when the housing market was just reopening after a two-month lockdown.
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