A study reported two-fifths of owners said when selling a property, buyers had changed their mind. The indecision whether to purchase the property or if they had found another home was a common cause for property sales falling before completion, more so than mortgages failing to be secured.
Further research has showed UK home owners are less likely to move again compared to a decade ago. It was suggested homeowners moved, on average, 3.6 times after buying their first property before 2008. Conversely, in the recent years the complexity and slower pace of buying and selling properties has declined to 1.8 times over their lifetime.
The Homeowner’s Alliance survey has suggested sellers on average had 5 different potential buyers to view their property when it was on the market.
Halifax, a leading mortgage provider suggested the weak demand for properties meant that UK house prices experienced the biggest monthly fall for almost eight years during April 2018. Halifax has suggested the price decreased by 3.1% between March and April, the biggest decline since September 2010.