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Quick Move Now Fall Through Index

Thursday, 25 February 2010

Aborted Sales at 36%

Quick Move FTI* dipped slightly to 36% in January.

The New Year has done nothing to improve the volume of aborted sales.

The Stamp Duty holiday came to an end in December and it seems that a significant number of buyers forced through their purchase before the change. We had expected a corresponding reduction in the FTI as the incentive to keep chains together was increased, however this didn’t materialise.

With more than one in three sales aborting before completion the situation remains very uncertain for buyers and sellers. For those who need to sell and those who want to buy their dream house an aborted sale could have serious repercussions.

So what does the rest of the year hold for broken sale chains?

Well we expect the fall through rate to remain high for the foreseeable future.

Mortgage finance still remains difficult secure and as banks remain risk adverse many people who make offers will be unable to secure an actual mortgage offer.

Last year we saw a lot of cash buyers of property. As house sale volumes increase this year we will see more house sale dependent buyers in the market. The resulting sale chains vastly increase the chances of a failed house sale as if just one link breaks the whole chain collapses.

If you want to avoid the uncertainty of the market 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.