16 Oct

House sale fall through rate drops

House sale fall through rate drops

The number of house sales that fell through has reached its lowest level since the end of 2012, according to new research.

Figures from Quick Move Now shows less than one in five home sales fell through between July and September with 19.62 per cent of sales being completed - compared to 36.34 per cent in the previous quarter.

The reduction in uncompleted sales could be due to the ongoing strength of the property market, as well as concerns over a possible increase in interest rates in the coming months - meaning more people are keen to ensure they secure their next property as soon as possible and they may be more willing to compromise on their future home.

"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," explained Danny Luke, business manager at Quick Move Now.

He added: "Often, buyers will already have sought financial advice, have mortgage offers in place, and taken time to really consider affordability so 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."ADNFCR-1222-ID-801803516-ADNFCR

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