When it comes to buying a home in England’s bustling cities, properties that are sold without the complexities of an onward chain are fetching higher prices than their counterparts. Recent research by Home Sale Pack highlights that these chain-free homes are not just a relief from the stressful buying process, but also come with a significant price premium.

The analysis examined the asking prices of chain-free homes across 10 major English cities. It found that on average, these homes are priced at £259,791, which is £9,739 more than the broader market average of £250,053. This indicates a chain-free premium of 3.9% across these cities.

Regional Variations

Interestingly, the premium for chain-free homes varies significantly across different cities:

• Bradford, West Yorkshire leads the way with a remarkable 7.2% premium. Here, the average asking price for a chain-free home stands at £186,472, compared to the general city average of £174,016, marking a difference of £12,456.
• Liverpool also shows a strong preference for chain-free properties, with a premium of 7%, where the average chain-free asking price is £200,836.
• In Manchester, the premium is slightly lower at 6.5%.

Further down the list, London enjoys a 4.5% premium, translating into the largest cash difference of £23,782 among the cities analysed. Other notable cities include Newcastle with a 4.1% premium and Leeds at 3.8%.

Lesser Concerns in Some Cities

On the other end of the spectrum, some cities show only a marginal preference for chain-free homes:

• Bristol records the smallest premium at just 1%.
• Sheffield and Birmingham follow closely with premiums of 1.2% and 1.5%, respectively.

This variation suggests that in certain areas, buyers may be less deterred by the prospect of dealing with a property chain.

Understanding the Chain-Free Appeal

Ruth Beeton, co-founder of Home Sale Pack, explains that property chains can make the buying process not only complex but also highly stressful, as the sale and purchase hinge critically on the transactions of others involved in the chain. This dependency can create a domino effect where a single failure can disrupt multiple transactions.

The Inescapable Reality of Property Chains

Although chain-free homes are more appealing due to their straightforward nature, Beeton acknowledges that for most home buyers, escaping a chain is often not feasible. The typical buyer must sell their current home to fund their next purchase. The challenge, then, lies not in eliminating chains but in enhancing the efficiency, speed, and reliability of the home buying process.

Improving the process involves making each step more dependable, which could significantly reduce the risk of sales falling through and thus alleviate some of the associated stress for buyers and sellers alike.