Landlords and other owners won’t accept current long transaction times, it’s been claimed by a property industry figure.

Jamie Cooke, co-founder of online auction service iamproperty, claims new data shows sales now taking an average of 205 days to complete.

This is despite it taking only an average of 36 days for homes on sale to find a buyer, and 52% if properties reaching a Sold Subject To Contract stage within two months.

Cooke says: “Since pioneering the Modern Method of Auction 15 years ago, we’ve seen continued growth in both the market and consumer appetite. 

“Undoubtedly, throughout that time, key moments have accelerated that trend. From the 2016 Stamp Duty changes and Brexit uncertainty to the COVID-19 lockdowns and the 2021 Stamp Duty holiday. In times of pressure, buyers and sellers have increasingly turned to auction as a faster, more reliable way to beat the delays of traditional Private Treaty transactions. 

“The most recent changes to the SDLT threshold sparked urgency once again, driving a 24% year-on-year sales increase in March 2025. Since then, momentum hasn’t faded even with the higher rates of Stamp Duty from April 1 with June marking our highest number of auction sales so far this year.

“Delays from outdated conveyancing, slow searches and manual processes continue to hold the market back. What a growing number of agents and consumers are waking up to is that it doesn’t have to be this way.”

He insists vendors are becoming increasingly frustrated by the time it takes to complete a transaction and adds: “We can’t accept a return to the dark days of 200-day completion times, especially when the tools to digitise and streamline the process exist, and the possibility of speed for every type of transaction is proven. 

“As the market continues to evolve, speed, certainty and transparency should be the ambition, if not the norm, for the benefit of everyone involved.”