The average property value could change by as much as £12,500 in the time it takes to progress an offer to completion. 

Digital property information service Moverly says it currently takes an average of 112 days to progress a sale from an accepted offer to completion. 

Over a similar period – the last four months- the average sold price of a property in Britain has increased by £5,548 but in London, where prices are far above the national average, a typical home value has risen by £12,507 in the same period.

Above-average increases have also been seen in the West Midlands, South West, Scotland, North West, and Yorkshire and the Humber.

A Moverly spokesperson says: “The property market is a peculiar beast and we’re used to hearing about the pace at which it can move, both with respect to homes going under offer, as well as the rate of house price appreciation. 

“However, the final stage of progressing a sale from sold subject to contract through to completion simply doesn’t move at the same pace and this can prove problematic.

“ … The provision of comprehensive and upfront material information can help combat such issues, allowing agents to proceed with a sale at greater pace and with increased security from potential fall throughs. In doing so, they can reach the finish line more quickly, ensuring that any deal agreed hasn’t been made redundant from notable swings in market values.”