Housing: Sales
The question
To ask the Secretary of State for Housing, Communities and Local Government, whether she has made an assessment of the implications for her policies of levels of house (a) buyers and (b) sellers withdrawing from a sale at the last minute.
Answered by Matthew Pennycook
The Government recognises that the current home buying and selling process in England is slow, costly and stressful, and that transactions falling through can contribute to this.
On average, around one in three transactions fall through before completion, costing consumers around £400 million in direct costs alone.
We continue to consider how to drive improvements most effectively across home buying and selling for both consumers and the sector.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →