The number of homes being sold in property chains is on the rise in London – said to be a result of fewer buy-to-let landlords making disposals or acquisitions.

The percentage of homes in London sold chain-free last year was 28%. According to Countrywide, the proportion is now 21%.

Countrywide’s chief economist Fionnuala Earley said that the decline of landlords in London reduced “much-needed liquidity”.

She said that landlords almost always buy and sell chain-free.

Buy-to-let investment in London has more than halved since the introduction last year of the 3% Stamp Duty surcharge on the purchases of additional properties, according to trade body UK Finance.