Home Property Home sellers at the mercy of the real postcode lottery

Home sellers at the mercy of the real postcode lottery

3rd Oct 24 12:31 pm

Recent research by Moverly, a provider of material information and digital property packs, reveals that the average turnaround time for a Local Authority (LA) Search in England & Wales has fallen by -4 days since the start of 2023, but more than half of local authorities have still seen the waiting time increase by as much as 26 days.

Moverly has analysed the average time it takes for every local authority in England & Wales to return a Local Authority Search, and how this turnaround time has changed since the start of 2023.

The data reveals that, across all 344 local authorities, the average time it takes to return a Local Authority Search currently stands at 11 days.

This marks a decrease of -4 days since the start of 2023 which is good news for buyers and sellers who are keen to navigate the notoriously drawn-out conveyancing process with as much efficiency as possible.

However, it’s not all good news, as the analysis by Moverly shows that waiting times vary significantly based on location.

The longest and shortest turnaround times

Buyers and sellers in the local authority districts of St Helens Metropolitan Borough Council and the London Borough of Hackney need to brace themselves for the longest wait as these boroughs take an average of 51 days to return a search.

It’s a similar story in the London Borough of Camden, Oldham Metropolitan Borough Council, London Borough of Islington, and East Lindsey District Council, all of which have a current average turnaround time of 46 days.

Conversely, there are 75 local authorities that boast an average turnaround time of less than 10 days which means people in the likes of Southend-on-Sea Borough Council (2 days), City of York Council (3 days), and Gateshead Metropolitan Borough Council (3 days) are benefitting from buying in highly efficient local authority districts.

Biggest increases and decreases

While the average wait for a Local Authority Search in England & Wales has fallen by -4 days since the start of 2023, many districts have failed to cut turnaround times and have, instead, seen enormous increases.

East Lindsey District Council, the London Borough of Hackney, the London Borough of Islington, and South Ribble Borough Council have all seen an increase of +26 days since January 2023, while Cornwall Council and Oldham Metropolitan Borough Council have seen the waiting time increase by +21 days.

In fact, more than half of all councils (184/344) have seen turnaround times increase since the start of 2023.

At the opposite end of the spectrum, Gloucester City Council has achieved the biggest reduction in waiting time. In January 2023, the average Local Authority Search took an astonishing 177 days to complete. Today, however, this has been reduced by -166 days to stand at just 11 days.

Oxford City Council has reduced its waiting time -46 days, while Staffordshire Moorlands District Council, South Staffordshire District Council, and Lichfield District Council have all managed reductions of -44 days.

Gemma Young, Moverly CEO, said, “We can see from the data that homebuyers are facing a genuine postcode lottery when it comes to how long they’re being forced to wait for Local Authority Searches to be completed. Some buyers are getting them back in 48 hours while others are waiting for well over a month. And when buyers are being held up, so too are sellers.

Sellers, therefore, need to look for ways of speeding up the conveyancing process and one crucial way of doing this is to ensure that more information is provided upfront.

In fact, the provision of ‘Material Information’ is a relatively new legal requirement for home sellers and estate agents and it’s required at the point of marketing a home.

This new regulation was designed to help the industry streamline selling timelines by priming it for the legal process ahead of time, providing a greater depth of information on a property beyond previously required information such as an Energy Performance Certificates.

This information also means that buyers have more instant access to the vital information they need to make a decision, negating the need for them to have to go and find the information for themselves – so both parties benefit from greater transparency and a quicker home selling timeline.”

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