Online estate agents, Nested.com, has revealed the London areas with the highest fall through rates, with 48% of property sales in SW1V 1 falling through.
The research which covers across August 2018 to August 2019, found the postcode SW1X 8 covering Knightsbridge, Belgravia and Westminster had the second highest fall through rate of 43%.
Some 41% of sales had fallen through in SW5 0, which covers Kensington, Chelsea and Earls Court, followed by Barnet, Acton and Elstree, which all faced a 40% fall through in sales. Ealing and Southall both had a result of 37% and 38% fall in sales in the 12 months to August 2019.
Meanwhile, Buckinghamshire and Hertfordshire had the least fall through in sales as only 8% of sales fell through. It was closely followed by Finsbury Park, Manor House and Harringay (N44) and N19 5, which covers Archway, Tufnell Park and Holloway, with an 11% fall through rate.
Commenting on the results, Ben Bailey, spokesperson for Nested.com’s, said: “Our research shows that buyers and sellers in SW postcodes seem to be particularly negatively impacted by fall-throughs. This might be partly due to well publicised struggles involved in selling more expensive properties that are frequently found in these areas.
“At Nested.com we’re determined to counteract the problem. That’s why we’re the only estate agent to offer a dedicated progression team who manage all aspects of both your house sale and purchase at the same time.”
He added: “Sometimes a fall-through is unavoidable, but we remove the risk for home sellers by making them chain-free with a cash advance that can be used to buy their new home before their old home is sold.”