An insurance company claims that over 29,000 property deals fall through in a year because buyers get cold feet over their chosen area’s reputation for crime.
Churchill Home Insurance claims 69 per cent of potential homeowners are fearful over crime rates in the area they are looking to buy in - and the firm says estate agents say 2.4 per cent of deals collapse because of buyers’ concerns over the issue.
However, Churchill’s results are based on telephone research amongst just 100 estate agents from 10 major cities - so it is a small sample and does not include small towns or rural areas.
The firm claims major concerns voiced are about local burglary rates, drug-related crimes, assault, property vandalism, vehicle vandalism and car theft.
It also claims that one in seven estate agents believes local crime rates are becoming an increasing issue for prospective buyers.
“With crime rates rising across the UK it’s no surprise to see that this is having a detrimental knock-on effect on homebuyer confidence. Buying a home is a major financial commitment and it is important to assess several factors when considering where to live, with local crime rates being one of them” according to the company spokesman Craig Rixon.