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Noticed So Many No Chain Sellers - Why So ?

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Has anybody noticed just how many properties are marketed now with No Chain ?

Not just one bed studio flats and two bed houses that would suggest BTL flight - but many three and four bedroom also.

Why would this be so prevalent recently ?

Are other areas showing this trend as highlighted in this thread ?

http://www.housepricecrash.co.uk/forum/ind...&st=0&p=177331&

No chain used to be quite the exception. :unsure:

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Has anybody noticed just how many properties are marketed now with No Chain ?

Not just one bed studio flats and two bed houses that would suggest BTL flight - but many three and four bedroom also.

Why would this be so prevalent recently ?

Are other areas showing this trend as highlighted in this thread  ?

http://www.housepricecrash.co.uk/forum/ind...&st=0&p=177331&

No chain used to be quite the exception.    :unsure:

Probably late, wannabe STRs. Unfortunately for them, they are trying to sell in a bear market when they should have sold in a bull market 12-18 months ago.

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No no, not BTLs or STRs, the answer is obvious. It is baby boomers retiring. The "my house is my pension" brigade. Born in 1946 you see, skip forward to 2005 and they're taking early retirement at 59. Off to France in Mini Cooper to enjoy the good life. Demographic time bomb. Expect to see many many family homes up for sale.

frugalista

edit: typo

Edited by frugalista

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verty hard to get accurate facts, but in chaster there are lots advertised as no ongoing chain.

i agree, not just 2br flats.

i look at 3 & 4 bed detached.

whether it is STRers, panicking recent BTLers or Frugalista's retiring baaby boomers, the end result is obvious.

people trying to get out before the prices drop.

sign of impending crash

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I would add the overstretched in there too, too much mew, too many lies on mortgage application, maybe even redundancy.

These people may see getting rid of the mortgage they can no longer afford, as their top priority.

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Guest rigsby II
Has anybody noticed just how many properties are marketed now with No Chain ?

Not just one bed studio flats and two bed houses that would suggest BTL flight - but many three and four bedroom also.

It's because you are looking for it, there are no more then ever.

Ever noticed how many BT vans there are in TV vox pop footage.

Ever bought a new brand car only to realise everyone is driving one, even though you'd never seen them before.

Ever noticed how many local news TV interviews in people's front rooms have them sat on settees with old fashioned wallpaper borders and vertical stripe manky wallpaper below the border, usually green and red flock from Wilkos.

Watch out for them and you'll see them every time now.

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I agree there are more no chain sellers. In addition to the categories mentioned there will also be some with bridging loans as they've already brought their next property. This was a feature of the last crash and some spectacular stories resulted!

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It's because you are looking for it, there are no more then ever.

Ever noticed how many BT vans there are in TV vox pop footage.

Ever bought a new brand car only to realise everyone is driving one, even though you'd never seen them before.

Ever noticed how many local news TV interviews in people's front rooms have them sat on settees with old fashioned wallpaper borders and vertical stripe manky wallpaper below the border, usually green and red flock from Wilkos.

Watch out for them and you'll see them every time now.

That's a good point Rigsby. The new car example was bang-on. I think some get ahead of themselves a bit on here.

Have you shafted Miss Jones yet?

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How about people that have already bought a new house but still cannot sell the old one. Would that count as no chain? I bet those bridging loans are beginning to hurt.

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No Chain sellers are increasing because people are realising that to complete a chain is very difficult in certain areas of the UK. I think more and more are concluding that selling first then renting whilst looking to buy is the only way forward.

I registered as a potential buyer at an estate agent last week. They have 2 lists of buyers; proceedable ie with nothing to sell, and non-proceedable ie still lumbered with a property. They don't bother sending any details of houses for sale out to the latter category.

At another agent they were openly suggesting that an offer 15% below asking for houses that hadn't sold for 6 months wasn't outrageous. Very heartening as an STR.

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Guest rigsby II
Just click search. Mr Cooke must be the "no chain" king.

Ah Yes, but how do you know that old Cookey hasn't always marked up the properties as no chain, all the way back to 1964 ?

:)

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Has anybody noticed just how many properties are marketed now with No Chain ?

Not just one bed studio flats and two bed houses that would suggest BTL flight - but many three and four bedroom also.

Why would this be so prevalent recently ?

Are other areas showing this trend as highlighted in this thread  ?

http://www.housepricecrash.co.uk/forum/ind...&st=0&p=177331&

No chain used to be quite the exception.    :unsure:

Answer is simple and I've said it before . . . . .

515,000 DEATHS PER ANNUM

65% (in 2004) aged over 75!

Thats 335,000 homes they occupied.

Say 30% had a surviving partner

That's 235,000 Detached/Semis/Bungalows/Flats coming on the market PER YEAR - YES Chain Free!

The Trustees of their Estate just cannot sell them in this market - so they just pile up waiting for . . . .

"THE BIG ONE"

(Dum,dum,Dum,dum - remember the Texas ads :) )

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Probably late, wannabe STRs. Unfortunately for them, they are trying to sell in a bear market when they should have sold in a bull market 12-18 months ago.

All depends which part of the country you live in, as the further out from London you are the later the peaks top out.

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buy to let.

essentially if you were an investor holding properties for which the rent yields did not cover mortages and were now realising that you were not going to see net capital gains against your investment as the property selling price is dropping.

would you not be selling...? and if you did not live in it.. no chain.

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It's because you are looking for it, there are no more then ever.

Rigsby II,

Not to spill my Martini over you but....

In fact it is precisely because I have been looking for some time that I am able to opine that the number of no chain properties are increasing.

I have been counting the number of properties for sale, the number that are openly marketed as reduced, the number that are offers invited and the number of no chain.

The number of properties for sale is steadily increasing, but I must say my main interest - the number of properties " reduced " - is not showing any signs of increasing. For now - the number of properties marked down are few.

It is too time consuming to collect data from rightmove - but using a property supplement for a small town - is easy and an interesting snapshot of what is happening.

Had not considered the death scenario, bridging loans or the point by Ignorant Steve that agents will work harder with no chain vendors. From my thread, 17% of properties are no chain.

Not having posted any data previously, just wondered if anybody else had done anything similar - and what they had found.

Will let you know regarding :

" Ever noticed how many local news TV interviews in people's front rooms have them sat on settees with old fashioned wallpaper borders and vertical stripe manky wallpaper below the border, usually green and red flock from Wilkos. "

and

" Ever noticed how many BT vans there are in TV vox pop footage. "

I once bought a brand new Lancia Delta and have to say I never noticed anybody else driving one. :)

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  • 341 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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