Number of house sales falling through ‘at lowest level since 2012’

The number of house sales now falling through are at their lowest level since 2012, according to data released by home buyer Quick Move Now.

The research shows that in the third quarter, less than one in five house sales, or 20%, fell through – down on the 36% reported at the end of Q2.

The figures also show that the six-month average fall-through rate was slightly lower at the end of Q3 than it was at the end of Q2.

Danny Luke, business manager at Quick Move Now, said: “As the property market becomes more competitive, buyers are coming to the market better prepared in order to make themselves more attractive to vendors when competing for property.

“Often, buyers will already have sought financial advice, have mortgage offers in place, and taken time to really consider affordability.

“They know what they can afford and they know what they’re looking for, so when they find a good property they want to snap it up as quickly as possible and not risk losing out to another buyer.

“Also, with continued market buoyancy and predicted interest rate rises, buyers are keen to secure properties quickly before they’re priced out of the market.”


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