Failed house sales cost England’s economy nearly £1bn a year

• Property transactions collapsing before completion are costing England's economy over £900 million annually.
• This includes an estimated £392 million in lost estate agency revenue and £515 million in uncollected stamp duty last year alone.
• Scotland and Wales also face losses of £7 million and £23 million respectively, due to similar failed property sales.
• Rightmove data indicates that 6 per cent of property transactions fall through and do not re-enter the market within 12 months.
• Industry experts suggest that improved communication, better upfront information, and a more streamlined, digitised system could significantly reduce these fall-through rates.

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Property sales that fall through ‘cost Britain £900 million a year’