Property sale fall-throughs will cost homesellers £788m this year
Market analysis estimates that property sale fall-throughs could cost the UK property market £787.7m in 2022, despite signs of an early decline in the actual volume of transactions affected.
During the first quarter of 2022, 71,613 transactions collapsed, -17% less when compared to the first quarter of 2021. However, despite the decrease in fall-throughs, the individual cost of a fall-through is expected to see a marginal increase in 2022, up from £2,700 to £2,750.
Finbri's, Stephen Clark said, "With the fear of rising costs per house sale fall-through, we've seen first-hand the increase in homebuyers looking to residential bridging finance to avoid chain breaks."
References
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