Less than one in five house sales fell through between July and September.
The house sale fall through rate has fallen to its lowest level since late 2012, with less than one in five house sales falling through in the third quarter of this year, according to data released today by leading home buyer Quick Move Now.
Figures indicate a house sale fall through rate of 19.62 per cent for Q3 of 2015, a fall of over 16.72 per cent from the reported 36.34 per cent in Q2.
Quick Move Now also released figures for the 6 month average fall through, which offers a greater overview of how the property market is performing generally, allowing for seasonal peaks and troughs. At the end of Q2 the 6 month average fall through rate sat at 28.44 per cent, and by the end of Q3 it had fallen to 27.99 per cent.
Danny Luke, Business Manager at Quick Move Now, commented: “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.
“In recent months a lot of customers have come to Quick Move Now because they’ve found their dream property and they fear that waiting to sell their property on the open market will mean they miss out on the property to someone who is in a more proceedable position. By offering them a quick and guaranteed cash purchase we free them up to move forward with their onward purchase. We are also able to date the purchase to tie in with an onward purchase, so our customers don’t have to worry that dates will not tie up if there’s a hold up on the sellers end.”
Data Calculation: Quick Move Now buy and sell hundreds of properties each year and the fall through statistics are calculated month-on-month, quarterly and using a six-month average.
Notes to editors:
Quick Move Now is the UK’s largest quick house sale company. Established in 1998, Quick Move Now has bought over 5,000 properties and has an annual turnover of £42 million.
Marketing PR Executive
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