HSBC’s chief UK economist Liz Martins and her team have produced a handy flowchart showing the step-by-step process of buying a house in the UK and just how long it all takes.
The whole process takes an average of 27 weeks, just over 6 months. The longest part of the process is actually finding a place you like.
The chart, which is part of the bank’s latest UK housing chartbook note sent out last week, also shows at what point in the housing process each price index take a measurement.
Rightmove’s index is at the start of the chain, measuring prices for properties when they’re first listed for sale, while the Land Registry is at the end, recording the final price a property is sold at.
Check out the chart below:HSBC