Revealed: Chain-free property market hotspots

Revealed: Chain-free property market hotspots

0:02 AM, 27th March 2023, About A year ago

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There has been a rise in the availability in chain-free properties in 21 major cities, according to a new report.

House Buyer Bureau reveals that chain-free stock availability has increased by 3.4% since June 2022, rising from 36.6% of all available homes to 40%.

The biggest stock increase has been reported in Glasgow with a 9% rise.

Chain-free stock availability climbed since last summer’s pandemic market peak

The firm’s managing director, Chris Hodgkinson, said: “The good news is that there is currently a robust level of current market stock that offers a chain-free purchase.

“This chain-free stock availability has climbed pretty much across the board since last summer’s pandemic market peak.”

After Glasgow, the highest rates of increase in stock are Portsmouth (8.1%), Bristol (6.1%) and Nottingham (5.3%). In Portsmouth, more than half (55.7%) of all available properties currently listed for sale are chain-free.

The next highest is Southampton (48.2%), Sheffield (47.7%), Cardiff and Bristol at 47.3%.

Chain-free homes are always going to be popular among buyers

Bristol is home to the highest homebuyer demand levels for a chain-free property at 57.2%, followed by Plymouth (56.5%), Belfast (56%), Southampton (50.2%) and Sheffield (50%).

In Plymouth, demand is measuring 56.5%, while it also sits above 50% in Belfast (56%), and Southampton (50.2%).

Those who want the easy route of a chain-free purchase must be quick, as 42.8% of all chain-free homes listed in the current market have already been snapped up by buyers.

The widespread fall in demand is having a positive impact on available stock levels, which is good news for buyers who are particularly keen to secure a chain-free home.

Mr Hodgkinson added: “Chain-free homes are always going to be popular among buyers in the same way that cash buyers are always going to be popular among sellers. The absence of a chain makes everything easier and eliminates much of the risk often associated with homebuying.

“The bad news is that such properties are predictably popular amongst buyers and so they don’t tend to hang around for long. If you do come across a property, you like and it happens to be chain-free, the best advice is to act sooner rather than later to secure it.”

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