What are the chances of a house sale falling through?

Alex Johnson

6d5ec8559603d9f264134fdf043ed5f5a7c32bf2 300x201 What are the chances of a house sale falling through?Between April and June, around a fifth of house sales fell through, reports Quick Move Now, down from one third in the same period in 2012 and continuing the steady fall since peaking in July 2008.

The average house sale fall through rate for the three month period was 19.77%, almost exactly 10% lower than in the corresponding quarter in 2012.

Donna Houguez, market analyst at Quick Move Now, said: “Whereas previously buyers tended to make offers and then secure a mortgage, often unrealistically, now we find that people making offers are much more committed. They are either cash buyers or they have a mortgage agreement in principle in place. Increasing market confidence following tentative signs of an economic recovery, rising transaction levels and prices, and the introduction of the Government and Bank of England backed Funding for Lending and Help to Buy schemes could be expected to further improve the fall through rate.”

Making money by going solar
Householders could get paid hundreds of pounds a year for heat generated by solar thermal panels, biomass boilers and heat pumps, Energy and Climate Change Minister Greg Barker said today. The new Renewable Heat Incentive (RHI) for householders is designed to drive forward uptake of renewable heat technologies in homes across Great Britain to cut carbon, help meet renewables targets and save money on bills.

How cars cause neighbourhood disputes
One in three arguments between neighbours is car-related, according to AA Home Emergency Response to the point that 91% of house-hunting AA members look for a new home with off-street parking.

Their research suggests that as well as increasing the value of a property by 8%, a parking space off the road can save up to £785 a year on on-street resident’s parking permits. Indeed, finding a neighbour or their visitor parked outside the home sets off 19% of neighbourly disputes.

Tom Stringer, head of AA Home Emergency Response, said: “Parking traumas are less down to the popularity of cars than the need for both partners to work and be independently mobile. Young workers group together in more affordable accommodation and often have their own vehicles. As a result, necessity grows a neighbourhood’s car population, squeezes available space, ratchets up friction and, like rats in a barrel, neighbours can lash out at each other.

“Parking permits, designed to protect residents’ parking, can heat up the hostility further. Although 12% of the survey sample wrongly assume that they have an automatic right to park outside their house, the often high cost of parking permits reinforces that sense of ‘ownership’.”

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