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36% of home sales fall through before completion

More than one in three house sales in the second quarter of 2015 in the UK failed to reach completion, according to new data, with the most common reason being a change of mind.

Research from Quick Move Now indicated a house sale fall through rate of 36.34%, a rise of over 13.5% from the reported 22.76% rate in the first quarter of the year. The figures over a six month period show it was 24.77% at the end of the first quarter but increased to 28.44% at the end of the second quarter of 2015.

“As the property market becomes more buoyant and an increasing number of properties become available, both sides of a property sale feel they have options if the sale is not progressing as quickly or as well as they had hoped,” said Danny Luke, business manager at Quick Move Now. He added: “Buyers are less likely to move forward with a purchase if the survey brings up surprises, and sellers are less willing to drop the price in a renegotiation, confident that they’ll be able to find another buyer fairly easily.”

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