The fall-through rate on transactions in the UK has dropped to its lowest level since late 2012, with fewer than a fifth of sales collapsing in the third quarter of this year.
The Quick Move Now company - a quick-purchase company which monitors transactions across the market - says the sale fall-through rate of 19.62 per cent for the third quarter of this year represents a dramatic reduction on the 36.34 per cent reported in quarter two.
The firm has also released six-monthly fall-through data which shows a 27.99 per cent rate between the start of April and end of September.
“Buyers are coming to the market better prepared in order to make themselves more attractive to vendors when competing for property" says Danny Luke, business manager at Quick Move Now.
"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" he says.
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"with ... predicted interest rate rises, buyers are keen to secure properties quickly before they're priced out of the market"
Surely interest rate rises will have the opposite effect? It's the potential future rises in available fixed rates that will add fuel to current demand.
Thanks to the high multitude of blogs and tips on the market from estate and letting agents, those considering making a purchase are much more informed on the entire transaction process. Knowledge is power as they say and this has evidently helped buyers along the way this year!
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