30% of property sales fall through

Almost one in three (30.47%) house sales fell through in January, according to data from Quick Move Now.

Business Manager Dan Luke said: “Although significantly lower than the peak seen during 2008, the fall through rate has remained stagnant at around 30% for the past 12 months.

“Taking out the seasonal variation by comparing the figures for January, it is apparent that the rate has remained fairly constant for the past four years and it is not expected to drop back to the 2006 level of under 15% at any point in the near future.”

Fall Through Rate – Annual Comparison

* January 2009 – 34.57%

* January 2010 – 36.13%

* January 2011 – 30.72%

* January 2012 – 30.47%

Luke said: “Such a consistently high fall through rate is difficult to manage for a company, let alone an individual homeowner. The most common reason for house sale fall throughs at present is lending issues. Often the problem is not with the direct buyer, but with a buyer further down the chain.”