Countrywides new research
- January 12, 2016
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In a recent survey shown in the Financial Times, Countrywide’s new research proposes the growth of the private rental sector and the higher number of mortgages means far less sales involve chains.
Countrywide say that while one in 10 transactions in Britain had no chains, the proportion is now one third.
This is due to a higher number of chain-free buyers include those who are currently renting and don’t have a home to sell and because there are a significant number of landlords who sell to other landlords, again avoiding chains.
Countrywide’s research involved a league table of locations of chain-free sellers giving these stats:
In Hyndburn, Lancashire, the seller is chain-free in 76% of transactions. In Liverpool it is 62% and in Nottingham 50%. The north west of England is the country’s most chain-free region for sellers, with an average figure of 40%.
The research indicates chains are most common in London, but where high prices accommodate many sellers to cash-in their equity before being able to buy around 26% of sellers do not have that chain.
Countrywide’s research director, Johnny Morris says “The days of buyers and sellers being caught in chains look numbered, If you’re on the housing ladder and you can afford to move up and trade, the reduction in chains makes both selling and buying easier.”