Number of House Sales Falling Through Rises in Q3
According to the latest Property & Homemover Report from TwentyEA/Ci, over 82,000 home sales fell through in Q3.
The report shows a total of 312,000 cancelled purchases in the last year, with a slight increase in sale fall-throughs in Q3 compared to Q2, which had 81,000.
The government has unveiled plans to reduce the length of time it takes to complete a property transaction by four weeks, including mandatory upfront information about properties and binding contracts.
“With 82,000 sales falling through in Q3 alone, we’re fully behind the government’s push to shake up the homebuying process.” - Colin Bradshaw, TwentyCi’s Chief Executive Officer
The proposal aims to save first-time buyers money and reduce the number of parties pulling out mid-way through lengthy transactions.
Author's summary: Home sales fall-throughs rise in Q3.More News
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