Back in summer 2007, the typical property for sale spent just 50 days on estate agents’ books.
Since then the typical marketing time for a property for sale has soared to a record 154 days in January 2009.
Doug Shephard at Home warned: “Time on market indicators will continue to rise unless more sellers cut their asking prices or mortgage lenders ask for smaller deposits – preferably both.”
Home produced its figures by surveying times on market for around 700,000 properties over the last 24 months.
