More than £900m in economic activity is being wiped out every year in England because agreed property sales are collapsing before completion, new analysis from Rightmove reveals.
The UK’s largest property platform calculates that 6% of transactions fall through and never return to the market within 12 months.
Based on 1.03 million housing transactions last year, an average stamp duty bill of £7,590 and a typical estate agency fee of 1.5%, that equates to nearly £392m in lost estate agency commission and £515m in lost stamp duty receipts.
Separate analysis shows a further £7m opportunity in Scotland and £23m in Wales if fall-through rates can be reduced, reflecting different tax regimes and lower failure rates north of the border.
CHAIN DISRUPTION
Rightmove’s data also shows that while 6% of deals collapse permanently, almost one in four transactions (23%) fall through at least once before eventually completing – delaying agent income, disrupting chains and forcing some buyers and sellers to incur repeat costs.
The findings highlight the scale of inefficiency in the current home-moving system. Across Great Britain, it took an average of five months last year for a house purchase to reach legal completion.
ECONOMIC OPPORTUNITY
Johan Svanstrom (main picture, inset), Rightmove’s CEO, says: “Our analysis highlights the scale of the economic opportunity if fall through rates can be reduced.
“More than one in five (23%) transactions are affected by fall throughs, costing agents either lost or delayed fees and leading to some home-movers paying thousands in repeat costs.
“We believe that further digitisation can help to bring this number down. Addressing it will require government investment, innovation across the transaction process, and stronger industry collaboration.
“The home-moving journey is still slowed down by many manual and fragmented processes.”
“The home-moving journey is still slowed down by many manual and fragmented processes. A seller shouldn’t need to list their home in April to move before Christmas.
“Our mission is to build the UK’s leading digital ecosystem for the entire moving experience, creating more opportunities for our estate agency partners and helping consumers move with greater confidence and speed.
“We believe a more effective system and increased mobility would add to overall economic growth in the UK.”
DIGITISATION IS ESSENTIAL
Responding to the government’s consultation on reforming the home-moving process, which closed at the end of 2025, Rightmove argued that digitisation and greater alignment across the transaction chain are essential to improve transparency, efficiency and consumer confidence.
The company pointed to more streamlined digital systems in countries including Norway, Finland and Estonia as examples of faster models.
It also called for more comprehensive upfront property information at listing stage, arguing that consistent data could reduce late-stage surprises that derail chains and prolong negotiations.
FINANCIAL IMPACT
Craig Webster, Managing Director at Tiger Estates in Blackpool, says: “Fall throughs continue to be one of the most overlooked inefficiencies in the residential market, yet they have a significant financial impact on agents, vendors and buyers alike.
“The true cost of those collapsed transactions goes far beyond a single lost fee. When a sale falls through, the agent has already invested substantial time and cost in securing the listing, marketing the property, vetting and managing buyers, and progressing the sale through to and beyond offer stage.”
FASTER COMMUNICATION
He adds: “Anything that improves transaction efficiency – particularly in conveyancing and data flows between parties – will reduce the risk of fall throughs. Faster, clearer communication between agents, lenders, solicitors and buyers builds confidence throughout the chain and helps prevent delays from snowballing into cancellations.
“At the same time, accurate pricing and early legal preparation for vendors are practical steps agents can take to better manage their own risk and give buyers greater clarity early in the process. Reducing fall throughs is not about eliminating risk entirely – that’s unrealistic – it’s about minimising preventable inefficiencies so that more agreed sales actually complete.”
BETTER UPFRONT INFORMATION
Mary-Lou Press, NAEA Propertymark President, says: “When a transaction collapses, it isn’t just a lost fee; it represents months of uncertainty, duplicated costs for buyers and sellers, and significant delays to people’s lives.
“Propertymark has long called for reforms to improve the speed, transparency and certainty of the home-moving process. While fall-throughs can never be eliminated entirely, many are preventable with better upfront information, improved communication between parties, and a more streamlined and digitised transaction system.”
“reform must work for consumers and practitioners alike.”
And she adds: “Our member agents work tirelessly to hold chains together and guide consumers through what is often a complex and stressful process. Propertymark agents are professionally qualified, adhere to a strict Code of Practice, and are committed to delivering high standards of service that help reduce avoidable delays and breakdowns in transactions.
“We support measures that promote greater digitisation, earlier provision of material information, and stronger collaboration across the sector.
“However, reform must work for consumers and practitioners alike, ensuring the system is both efficient and robust. Reducing fall-throughs will not only strengthen consumer confidence but also unlock significant economic potential across the country.”
