With a rising number of UK homes on the market as chain-free, prospective buyers have an opportunity to save time and avoid the lengthy wait often associated with property chains. New data from Zoopla reveals that a third (32%) of current homes for sale are advertised as chain-free, a figure that could continue rising as investors and second homeowners adjust to recent and upcoming tax changes.
Budget prompts more landlords and second homeowners to sell
One week on from the Autumn Budget, Zoopla’s analysis shows a surge in interest for chain-free homes, with buyer enquiries up 33% for these properties compared to those still tied in a chain. The upcoming council tax changes for second homes—set to add a 100% premium on council tax from April 2025—are driving many investors and second homeowners to offload properties before the tax increase comes into effect.
This surge in chain-free homes is good news for first-time buyers, particularly for those aiming to purchase a home before the stamp duty rates rise in April 2025. Currently, 41% of two-bedroom homes on Zoopla are listed as chain-free, a popular choice for both older buyers downsizing and investors looking to liquidate assets.
Where chain-free listings are most prevalent
Zoopla’s data shows that areas in the North West, Yorkshire and the Humber, and the South West have the highest concentrations of chain-free properties, each with 36% of listings free from chains. In certain areas like Hull and Uxbridge, this figure is even higher—Hull tops the list with 46.2% of properties chain-free, primarily two-bedroom homes, while Uxbridge, a popular commuter town, offers 44.7% of chain-free listings, with three-bedroom houses the most common type.
According to Toby Leek, NAEA Propertymark President, “Properties with no chain such as those that are empty and new builds will be extremely desirable as they offer a faster purchase time than those that don’t. We expect sales to ramp up and negotiations to become more prevalent across the board on the run-up to the new financial tax year.”
Tax pressures and changing market conditions impact landlords
The influx of chain-free homes reflects broader financial concerns for landlords. Sarah Coles, head of personal finance at Hargreaves Lansdown, explained, “Landlords aren’t convinced that the government has finished its tax raid on second home owners… they’re taxed more on the way in, frozen income tax thresholds mean more tax each month, and then there’s tax when they come to sell.”
Additional financial pressures—including high mortgage rates, rising maintenance costs, and increased legislation—are pushing many landlords to exit the market. For those still considering the buy-to-let market, the availability of chain-free properties offers potential savings in both time and cost, while also giving buyers a better chance to complete purchases before next year’s stamp duty changes.
As the proportion of chain-free homes grows, the property market sees a promising increase in buyer interest, positioning 2024 as a pivotal year for both new buyers and investors reshaping their property portfolios.
