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CORONAVIRUS UPDATE

See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 271,222 | UK Deaths: 38,161 SEE MAP Italy Confirmed cases: 232,248 | Italy Deaths: 33,229 | Italy Recovered: 152,844 SEE MAP Spain Confirmed cases: 238,564 | Spain Deaths: 27,121 | Spain Recovered: 150,376 SEE MAP See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 271,222 | UK Deaths: 38,161 SEE MAP Italy Confirmed cases: 232,248 | Italy Deaths: 33,229 | Italy Recovered: 152,844 SEE MAP Spain Confirmed cases: 238,564 | Spain Deaths: 27,121 | Spain Recovered: 150,376 SEE MAP

TODAY'S OTHER NEWS

Property chains are more likely to collapse amidst a slowing market

The recent increase in the number of residential property sales falling through before completion is likely to continue in the near term due to political and economic uncertainty, according to sales progression and communication tool mio. 

The latest figures released by Quick Move Now revealed that almost a third of all failed transactions were a result of a chain collapsing, and mio expects that trend to continue in the foreseeable future. 

Uncertainty around the property market has been ongoing for a while now due to extended Brexit negotiations and political upheaval. 

These conditions can cause consumers to lose confidence in the market, with many buyers opting to delay moving decisions until certainty and stability are established. This position from property buyers and sellers can have significant consequences for property chains, while inadvertently driving up demand for private rental properties during what is traditionally one of the busiest times of the year for the property market.

“Every hour that a sale stalls is another hour the customer has to find another property or agent, or begin questioning their investment,” said Jon Horton, product director of mio.

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    Property chains are a nightmare, the world is full of time wasters, I much prefer the auction route for property transactions, deal done no messing.

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    How right you are I was in a chain of 7 it broke 3 times. I was the only one putting up the money if you like, all others were sell to buy.

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