In a year of extremes for the UK property market, 2022 saw both record-high asking prices and mortgage market chaos with rapidly rising interest rates – little wonder then that fall-through figures for the year reflect a high level of uncertainty.
Of the sales that failed in 2022, 37.3% were caused by the buyer changing their mind and pulling out. A further 23.7% of failed sales collapsed because the buyer was unable to secure a mortgage, or experienced a change in circumstances that meant they were no longer able to commit to the purchase.