UK Home Sale Times Diverge as Mortgage Rates Rise

Home sale times across England, Scotland, and Wales have diverged sharply despite a stable national average of 42 days. Zoopla reports that homes in 180 out of 363 local authorities are taking longer to sell than they did last year, creating a regional divide where Scotland remains the fastest market. In Falkirk, homes sell in an average of 11 days, while areas such as Westminster, Melton, and Teignbridge now average two months or more.

This volatility stems from mortgage market instability linked to the war in Iran. Lenders pulled deals in March, contributing to a rise in average two-year fixed residential mortgage rates from 4.83% in February to 5.61% by August 18, 2026. Zoopla noted that the national stability is "masking a real divide opening up between local markets."

Financial markets expect the Bank of England may raise the base rate from 3.75% twice before the end of next year. The final decision will depend on upcoming inflation and jobs market data.