More than a third of house purchases fell through in the past year, with buyers ending up £2,000 out-of-pocket

According to data from online property platform Smoove, 34 per cent of property transactions did not ultimately end up going ahead.

 

The problem may stem from a crowded housing market with lots of competition, as the research also revealed that new property searches from would-be buyers were up 36 per cent year on year.

 

The figure climbs to 54 per cent for first-time buyers, according to the firm's inaugural Home Movers Report.

 

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