A sales progression tool claims to have analysed how long it takes to expedite sales chains of different lengths, and to have identified regional variations.
View My Chain says that in a chain of five properties it takes an average of 113.97 days to progress from the offers accepted stage, to completion.
Until now, the people behind the tool say most of the information regarding time taken to progress a sale from SSTC to completion has relied on qualitative information rather than hard data.
However, they have used the tool to analyse some 500,000 transactions suggesting that:
- North east England has 40 per cent of transactions with a single-property chain;
- In the north west and Midlands, 60 per cent of properties are in two-property chains;
- In the south east, 66 per cent of properties are in two-property chains with 31% in chains of three to five properties;
- Meanwhile in the south west, 56 per cent of properties are in two-property chains, with 40 per cent in three and four-property chains.
Chief executive Sohail Rashid claims his service allows agents to complete chains in a typical 79 days as opposed to averages of 100 to 114 days.