Figures from Connells estate agency show that, a year ago, the average transaction time was 18 days quicker at 137 days.

Leasehold homes are taking an average of 57 days longer than freehold homes to go from offer to exchange, the research also shows.

The average freehold home took 98 days to reach the exchange of contracts stage in April, which was 16 days higher than last year when the  average was 82 days.

Connells says the delays in the sales process for leasehold homes are driving up overall transaction times because of their impact on other properties in the chain, Connells says.

The long-term trend shows overall average transaction times are now around four weeks longer than they were in April 2019.

Late-stage fall-throughs have also risen, it says.

Connells research director Aneisha Beveridge says: “For the first time on record, it is now taking more than 100 days, on average, for a sale to progress from ‘offer agreed’ to ‘exchange of contracts’. 

“That highlights how much more drawn out the transaction process has become, particularly since the pandemic. 

“Extra checks, longer chains and tighter legal and compliance requirements are all adding time, with leasehold purchases standing out as the biggest contributor to delays.

“The knock on effect is that buyers and sellers are left exposed for longer once a deal is agreed, and we’re increasingly seeing more transactions collapse later in the process. 

“As sales take longer to work their way through the system, buyers become more exposed to changes in mortgage rates and house prices if conditions shift during that period. 

“That extended uncertainty builds further down the line. 

“This doesn’t just matter for the housing market itself – delayed or failed moves can also weigh on consumer confidence, labour mobility and, ultimately, wider economic growth.”

National Leasehold Campaign co-founder Katie Kendrick says the delays expose a system that is “fundamentally broken”.

She says: “Leaseholders have been warning the government for many years that the leasehold system would grind the buying and selling process to a halt.

“That is exactly what we are now seeing unfold.”

Kendrick says leasehold homes are increasingly becoming difficult to sell, with transactions stalling, collapsing or taking significantly longer to complete.

She says this is not an isolated issue but a systemic failure built into the leasehold model.

“Every single day, leasehold sales are falling through because of a system that is outdated, exploitative and completely unfit for purpose.

“Leasehold sales falling through within the NLC is sadly a daily occurrence.

“This is not anecdotal — it is happening at scale, and the data now supports what leaseholders have been saying for years.

“This is the leasehold bottleneck in action.”

Kendrick adds: “The Campaign is calling on the government to take urgent action to address the root causes of these bottlenecks and to provide a clear and deliverable timeline for reform.

“Without decisive intervention, delays will continue to increase, more transactions will fall through and leaseholders will remain trapped in properties they are unable to sell.”