The number of house sales falling through before completion in the UK has shot up at an alarming rate.

Experts say that those eager to move face “challenging” conditions.

They rose to 38.8 per cent at the beginning of 2018, from 34.9 per cent in the first quarter of 2017, the latest research has found.

This compares to 21.6 per cent in 2016, and 22.6 per cent in 2015, according to figures released by independent home buyer Quick Move Now.

It means that this quarter has seen the highest rate for a decade.

The biggest reason appears to be buyers changing their minds.

“Ongoing Brexit uncertainty and strict lending criteria are certainly contributing to increased market caution and fewer successful property sales,” said Danny Luke, Quick Move Now’s managing director.

Mr Luke added that a shortage of supply also remains an issue in many areas.

“This means those that are keen to move, or have no choice, find themselves in a very challenging market,” he said.

Of the property sales that were unsuccessful, some 46 per cent were attributed to the buyer changing their mind or the seller feeling that the sale was not progressing quickly enough.

Strict lending criteria is also playing a role, the report shows, with 11.5 per cent of sales that fell through doing so because the buyer was unable to secure sufficient funding from their mortgage provider.

The remaining eight per cent of failed house sales were the victim of a collapsed property chain.