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Quick Move Now Fall Through Index

Friday, 20 November 2009

Aborted Sales Over 34%

Quick Move FTI* rose to over 34% this month.

The UK housing market remains a confused and difficult environment. The market conditions are unusual, unsustainable and we are seeing massive regional differences.

Despite apparently good news coming from the housing market we are seeing continued increases in the number of aborted sales. Unfortunately all the news is based on average, national statistics which mask the realities for individual buyer and sellers. Most of the improvement in statistics has been driven by sales in London and South East, the picture unfortunately is much bleaker for people in other parts of the country.

Early this year only serious buyers with secure finance were buying property. Due to the torrent of “good” news stories over the last few months we have seen more “normal” buyers returning to the marketplace. Many of these buyers are not as confident and may not be able to get secure, affordable mortgage lending which has in part led to more sales aborting.

This situation is only likely to get worse as more buyers and stock enters the market. We would expect the rate of aborted sales to rise again in the New Year.

If you want to avoid the difficult market conditions and sell your house quickly Quick Move Now can help, follow the link to learn more about our service.

*This figure is based on house sales that are professionally qualified and managed and the true rate of fall through on the open market is unfortunately much higher.