Quick Move Now House Sale Falling Through
Index – January 2012
Quick Move Now provides one-of-its-kind data to homeowners to help with assessment of the housing market.
The house sale fall through rate for January 2012 was 30.47% so around one in three house sales did not result in completion. Dan Luke, Quick Move Now’s Business Manager, comments:
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 (see below), 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.
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.
Quick Move Now sells hundreds 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.
Quick Move Now is the UK’s leading home buyer, offering a quick, secure and hassle-free house sale. Experienced researchers and independent valuers work together to ensure that offers made are fair and a friendly, supportive team looks after the customer every step of the way. For further industry analysis and comment, please contact firstname.lastname@example.org.