Pre­pare to take strain in chain

Yorkshire Post - Property - - PROPERTY -

CON­VEYANC­ING ex­perts say the av­er­age length of chains in­volved in hous­ing trans­ac­tions in the UK is in­creas­ing.

Ir­win Mitchell says that for the past few years the ma­jor­ity of trans­ac­tions have been one-off pur­chases or smaller two-prop­erty chains. But the av­er­age num­ber of groups in­volved in a sin­gle hous­ing trans­ac­tion is now in­creas­ing to lev­els more com­mon five years ago.

He­len Hutchi­son, a spe­cial­ist con­veyanc­ing lawyer at Ir­win Mitchell, says: “It shows that the mar­ket is pick­ing up be­cause we are mov­ing away from a time when the only pur­chasers were those that had the cash or de­posit in place to be able to buy with­out sell­ing their own prop­erty. House prices are also in­creas­ing.”

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