Just one in five house sales fell through in the first quarter of 2016, welcome news for those looking to sell their property, new research has found.
The findings which were released by a home buying firm show a house sale fall rate of 20 per cent for Q1 of 2016, an improvement on the 27.9 per cent recorded in the final quarter of 2015. On average the fall-through rate for 2015 as a whole was 29 per cent.
The main reasons for the sales collapsing were the seller withdrawing to achieve a higher offer (25 per cent) or the buyer/seller withdrew because the process wasn’t progressing as fast as thought (25 per cent).
The findings are of course good news for those looking to sell – with a lower likelihood of the sale falling through.
Peter Buckingham, head of residential sales, commented “The start of 2016 has been an interesting time for the UK property market. We’ve seen such strong demand that it has exceeded supply in many areas. This has led to what has been found in this research – fewer people are dropping out because they want to beat the demand to secure a property.”
Given the competition of the market, buyers are likely to act more impulsively meaning that delays are becoming reduced. As a seller, it is important to make sure that your property stands out from the rest. A solid marketing strategy and online presence will help with this.
If you are looking to sell your property in the Leicester, Market Harborough and Loughborough area – with over 25 years’ of experience, Andrew Granger can help. For more information about buying and selling in the area, call us today on 01858 431 315.