Many homes for sale in East Anglia are currently chain free
Over one-third of the homes currently on the market in the east of England are now believed to be chain-free.
Property portal Zoopla has reported that across the UK some 32 per cent of its homes now have no chain as investors and second homeowners look to sell amid expected changes to the way second homes are taxed.
In the east of England this figure is above the average at 34.8 per cent, while the north west, Yorkshire and the Humber and the south west have the highest proportion of chain-free homes at 36 per cent.
This is due in part to the second home hotspots within these areas, such as Carlisle – near the Lake District – and the Bournemouth coast.
Norfolk and Suffolk are, of course, renowned for their abundance of holiday homes.
In the north of the country, Hull has a large proportion of homes for sale that are chain free at 46.2 per cent, with two-bedroom properties being the most common.
In the south, London suburbs and towns within more affordable areas of the commuter belt tend to have an above average number of chain-free homes for sale.
From April 2025, councils will be able to charge a premium of up to 100 per cent in additional council tax on second homes, a factor that second homeowners will be taking into account when making their selling or purchasing decisions.
Chain-free homes often complete faster than other properties, making them an attractive prospect for those hoping to finalise their property purchases before the stamp duty land tax (SDLT) rates in England and Northern Ireland increase in April 2025.
While affordability remains a concern for many first-time buyers, encouragingly 41 per cent of two-bedroom room homes are currently listed as chain-free on Zoopla.
Two-bedroom properties are often also popular with older buyers looking to downsize, as well as landlords and investors, so are more likely to be chain free when they come on to the market than other types of homes.
This is good news for first-time buyers searching for small starter homes in these areas, as well as those looking for properties to extend, renovate or modernise.
Two-bedroom properties may also be suitable for loft conversions.
The proportion of homes available to buy without a chain tends to increase in the final months of the year, peaking in January.
Izabella Lubowiecka, senior property researcher at Zoopla says: “There are several reasons why a home might be chain free.
“Individuals may be selling an inherited home, households might be moving in together, going from two homes to one, or investors and second homeowners could be selling additional property.
“Those looking at buying a home before stamp duty rates increase in April 2025 should think about buying a chain-free home as they tend to complete much faster.
“Now is a great time to look for properties, with more chain-free homes available than in previous months.
“Widening a search to include new homes might also offer a wider range of choice.”