Quick Move Now provides latest fall through rate to help with assessment of the property market
According to recent data analysis compiled by Quick Move Now, the house sale fall through rate for Q1 of 2015 was 24.77 per cent, this means nearly one quarter of all house sales did not end in completion.
Back in Feb 2006 the property market saw a fall through rate of just 9.09%, however the recession in 2008 saw fall through rates increase massively to 45.55%, meaning, at the time nearly half of all house sales were falling through before completion.
Nikki Tollafield, Marketing Manager for Quick Move Now commented;
Looking at the fall through figures post-recession, it is clear that the market is on its way to recovery. Although we still aren’t at the low fall through levels we saw back in 2006, it’s definitely a positive picture for the property market as a whole.
The longer the chain of people involved in a house sale, the higher the chance of fall through. Even if a vendor’s direct buyer is in a strong position for exchange and completion, the financial situation of other buyers further down the chain can cause problems.
Quick Move Now buys and sells thousands of properties each year and the fall through statistics are calculated month-on-month using a six-month average. In reality, the fall through rate for homeowners would be approximately 10 – 15% higher as Quick Move Now has a professional resale team proactively managing the completion process.