The number of homes returning to the market after a fallen-through sale reduced by 60% between February and July 2023, according to data released by Moverly.
Overall, 2,118 homes returned to the market in England, with Yorkshire and the Humber seeing the largest reduction, down 67%, followed by the West Midlands (-63%) an the North East (-63%).
The highest number of homes returning to the market was logged in the South East, accounting for 24% of the national total.
London and the East of England both accounted for 14% of the national total.
Detached homes were the most likely to fall through and return to the market, accounting for 38%, followed by flats (26%) and semi-detached homes (22%).
Ed Molyneux, co-founder of Moverly, said: “The current property landscape is far from desirable, with increasing interest rates pushing up mortgage costs and deterring many buyers and existing homeowners from making their move.
“In recent months, this has led to a reduction in market activity, with house prices also cooling due to declining buyer demand levels.
“However, one silver lining to these cooler market conditions is a fall in the number of homes returning to the market having previously agreed a sale.
“This demonstrates that those buyers who are moving forward with a purchase are doing so after a far greater degree of consideration than was shown during the erratic highs of the pandemic market boom.
“As a result, fewer transactions are collapsing due to the fact that buyers are in a proceedable position and aren’t being found out further down the line.”
