On a quarterly basis the fall through figure was 28.21% in the last three months of 2019.
Looking at reasons for the failed sales, it seems both buyers and sellers are happy to keep looking for a better deal, even after an offer on a property has been accepted.
The top reason for property sales being unsuccessful is that the buyer changed their mind.
Why property sales failed in 2019 and Q4 2019
| Reason | Percentage of failed sales 2019 | Percentage of failed sales Q4 2019 |
| Buyer changed mind | 34% | 36% |
| Difficulty securing a mortgage | 17% | 18% |
| Seller pulled out due to slow progress | 15% | |
| Chain break | 13% | 9% |
| Problem identified during survey | 11% | 9% |
| Seller accepted higher offer from different buyer | 10% | 27% |
Danny Luke, Quick Move Now’s managing director, commented: “2019 was another mixed year for the property market. Brexit and a general election created a significant amount of uncertainty, which undoubtedly had an impact on market confidence and led to some would-be buyers and sellers taking a ‘wait and see’ approach.
“Those who did choose to move forward with a sale or purchase were serious and committed to the sale – the annual fall through rate is the lowest we have seen since 2013 – but buyer and seller caution are still visible in the reasons given for unsuccessful sales.
“Post-general election, we expect to see a level of confidence return to the market over the coming year.”
Data Calculation: Quick Move Now buy and sell hundreds of properties each year and the fall through statistics are calculated month-on-month, quarterly and annually.
