If you're planning to sell your home, there’s one trend you need to be aware of—fall-throughs are increasing. With more market activity comes more transactions, but unfortunately, more deals collapsing before completion too.
The property market has seen its ups and downs over the past few years, and fall-throughs have followed suit. Here’s what the numbers reveal:
● In Q3 2022, UK property transactions hit 337,730, but 90,188 sales fell through—the highest number since 2018.
● As market activity slowed in Q1 2023, transactions dropped to 227,390, with fall-throughs decreasing to 64,865.
● Now, in Q3 2024, sales are climbing again, reaching 296,640—but so are fall-throughs, now at 84,079, the highest since the 2022 peak.
One major factor is the upcoming 1st April stamp duty deadline. Buyers are rushing to complete before tax relief changes, just as they did during the last stamp duty holiday. The impact of that period was clear:
● Transactions jumped by 38% in Q3 2020 after the tax relief was introduced.
● Sales hit a peak of 377,280 in Q2 2021, just before the holiday ended.
● Fall-throughs also soared to 76,814 in the same period.
● Once the tax break expired in late 2021, both transactions and fall-throughs dropped significantly.
What This Means for Home Sellers
If you're selling in Bury St Edmunds, be prepared for:
● Increased buyer interest ahead of the April deadline.
● A greater risk of fall-throughs due to time pressures and mortgage delays.
● The need for a strong, motivated buyer and a smooth, well-managed sale process.
How to Protect Your Sale
With heightened market activity, it's crucial to:
● Choose a buyer with solid finances and a mortgage in place.
● Stay on top of paperwork to keep the process moving.
● Work with an experienced local agent who can help manage risks.
Thinking of selling? Now’s the time to act. Get in touch to find out how we can help you secure a smooth, successful sale.
Colby Short of GetAgent.co.uk said: “Fall throughs are an unfortunate reality across the property market and despite the endeavours of the industry to limit their propensity, estate agents will inevitably see a great deal of hard work wasted due to transactions failing to complete. The busier the market, the higher the number of fall-throughs that tend to occur, and so with the rush now on to beat another stamp duty deadline, there’s a good chance that fall-through numbers will continue to rise over the first quarter of this year.”
At Coakley & Theaker, we’re more than just estate agents – we’re your local property partners. With a wealth of experience and a passion for helping people find their ideal homes, we’re committed to delivering exceptional service every step of the way.
If you’re considering a move to Bury St Edmunds in 2025 or want expert advice on the local property market, contact us today. Call 01284 769691, or get in touch via our social media profiles to discuss your options.
Bury St Edmunds, Suffolk 01284 769691 or 01359 256821 or 01449 737706 or 07803 138123
Email: [email protected] or [email protected]
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