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More Than 40pc Of Uk House Sales Are Collapsing

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Four in ten house sales are collapsing in some areas as buyers back out or fail to get a mortgage, the Bank of England has disclosed.

The new figure is yet another sign of the pain being endured by the housing market as the effects of the credit crunch work their way through.

In the monthly Agents' Summary of Business Conditions report, the Bank said: "In the market for established homes, more transactions were falling through, with some estate agents reporting a cancellation rate of up to 40 per cent recently. That was partly due to the unwillingness of many sellers to accept a lower offer."

http://www.telegraph.co.uk/money/main.jhtm...bcnhouse124.xml

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Would certainly tally with what I'm seeing round here (south Surrey) at the moment. The odd place shifts very quick indeed, most hang around a good while, and there's a set that seem to go from "For Sale" to "Sold" and back again, often several times before either selling, giving up, or going over to "To Let".

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Would certainly tally with what I'm seeing round here (south Surrey) at the moment. The odd place shifts very quick indeed, most hang around a good while, and there's a set that seem to go from "For Sale" to "Sold" and back again, often several times before either selling, giving up, or going over to "To Let".

Yup, same round here as well.

In fact a few completed sales I have noticed in the 600-1mill bracket have gone on to let after the sale.

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  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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