The fall through rate for property sales has nearly halved since the recession in 2008 and is on the rise again, according to estimates of quick house sale company Quick Move Now.
The house sale fall through rate for in the first three months of 2015 was 27.35 per cent, compared to 45.55 per cent in 2008.
Although it is still far away from the pre-recession level of 9.09 per cent (recorded in February 2006), the trend is imrpoving, Quick Move Now says.
Nikki Tollafield, marketing manager at Quick Move Now, comments:
“Looking at the fall through figures post-recessions, it is clear that the market is on its way to recovery. Although we still aren’t at the low fall through levels we saw back in 2006, it’s definitely a positive picture for the property market as a whole.
“The longer the chain of people involved in a house sale, the higher the chance the sale will fail to successfully complete. Even if your buyer is in a strong position for exchange and completion, the financial situation of others further down that chain can jeopardise the successful completion of the purchase.”
Quick Move Now buys and sells thousands of properties each year and the fall through statistics are calculated month-on-month using a six-month average.
Established in 1998, Quick Move Now has bought over 5,000 properties and has an annual turnover of £42 million.
