What are the chances of a house sale falling through?
New figures show less heartache involved in the moving process
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Just over 23 per cent of house sales fell through in the period between July and September, a drop of more than six per cent over the previous three months.
Indeed, this is the first time in nearly two years that the percentage of house sales falling through before completion has dropped significantly.
Donna Houguez, market analyst at Quickmovenow.com which released the new figures, said: "We are seeing a change in the structure of the buyers attempting to purchase property. No longer are people putting in an offer on a house and crossing their fingers in the hope that a mortgage will be approved. Instead, they are doing their homework beforehand, being more realistic about the amount that banks will lend and securing approvals in concept.
"Secondly, the return on investment available to cash buyers and buy-to-let landlords has increased the proportion of professional buyers, who are more motivated and therefore more likely to complete.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments