According to recent research from Quick Move Now, over one in four property sales (29%) in England and Wales fell through between July and September 2024. The primary reason for these failures was buyers struggling to secure mortgages, accounting for 40% of the unsuccessful transactions. Other common causes included buyers changing their minds (27%), chain breaks (14%), gazumping (12%), and survey issues (7%).

The cost of each failed sale is estimated at £3,370, which could amount to a total loss of £900 million per year for the public. This reflects ongoing difficulties in the housing market, including higher mortgage interest rates and the cautious approach lenders are adopting due to uncertainties in the global economy