A third of homes for sale on Zoopla are currently chain-free, as investors and second homeowners look to sell amidst expected changes to the way second homes are taxed, the property portal reports.
From April 2025, councils will be able to charge a premium of up to 100% 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.
One week on from the budget, chain-free homes are attracting more interest compared to homes not advertised as chain-free, with listing views seeing an average increase of 9% and a 33% average increase in buyer enquiries. This interest is likely to increase further as homeowners and first-time buyers make last-minute offers in a bid to avoid higher SDLT bills.
The North West, Yorkshire and the Humber and the South West have the highest proportion of chain-free homes at 36%, due in part to the second home hotspots within these areas, such as Carlisle (near the Lake District) and the Bournemouth Coast.
Proportion of chain-free homes for sale by region:
|
Region |
Percentage chain free |
|
North West |
36.5% |
|
Yorkshire and The Humber |
35.9 per cent |
|
South West |
35.9 per cent |
|
East Midlands |
35.8 per cent |
|
South East |
35.3 per cent |
|
East of England |
34.8 per cent |
|
North East |
34.5 per cent |
|
West Midlands |
32.3 per cent |
|
Wales |
30.7 per cent |
|
London |
28.9 per cent |
|
Scotland |
2.3 per cent |
|
GB |
32.3 per cent |
Source: Zoopla
In the North of the country, Hull has a large proportion of homes for sale that are chain-free at 46.2%, the most common type being a two-bed home. 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, such as Uxbridge at 44.7%, the most common type of home being a three bed property. This is good news for first-time buyers searching for small starter homes in these areas.
Postal areas with large percentages of homes chain-free:
|
Postal area |
Percentage chain free |
Property type most commonly marked as chain-free |
|
|
HU |
Hull |
46.2% |
Two bed house |
|
UB |
Uxbridge |
44.7% |
Three bed house |
|
DA |
Dartford |
44.4% |
One bed flat |
|
BS |
Bristol |
44% |
One bed flat |
|
LU |
Luton |
43.9% |
Two bed flat |
|
PO |
Portsmouth |
43.2% |
One bed flat |
|
SM |
Sutton |
43.0% |
Two bed flat |
|
BL |
Bolton |
43.0% |
One bed flat |
|
CR |
Croydon |
42.7% |
One bed flat |
Source: Zoopla
The proportion of homes available to buy without a chain tends to increase in the final months of the year, peaking in January – the most popular time of the year to list a home for sale.
Izabella Lubowiecka, senior property researcher at Zoopla, said: “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 owners could be selling additional property.”