Property chains adding £2k to moves

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Property chains are adding more than £2,000 to the average cost of moving with nearly half of buyers caught in chains suffering delays or collapsed deals, according to new data from Barclays.

Its latest Property Insights research shows 32% of adults who bought or sold in the past three years were part of a chain, and 46% of that group experienced delays or transaction breakdowns linked to chain-related issues.

Buyers and sellers initially budgeted an average of £4,954 for third-party costs such as surveys and legal fees. But those hit by chain breakdowns report spending an additional £2,127 on average – 43% above their planned budget.

BEHAVIOURAL CHANGE

Around 28% of those previously in a chain say they will delay moving for as long as possible because of the stress involved.

Meanwhile, 15% would only consider selling to a cash or first-time buyer in future, and 13% would look to buy a new-build property to avoid chains altogether.

Chain collapse is now the leading cause of failed transactions among those whose sale or purchase fell through in the last three years, with 22% blaming a buyer or seller pulling out.

Gazumping affected 13%, while 11% were gazundered. One in seven (15%) admit they have attempted one of these tactics themselves, resulting in a breakdown.

DEPOSIT PRESSURES

Deposit pressures remain another major hurdle, particularly in higher-value areas. Barclays mortgage data shows the average UK deposit in January was £59,057, rising to £62,272 for first-time buyers. In Greater London, the average deposit hit £152,503, compared with £36,161 in the North.

There are, however, tentative signs of improving sentiment among renters. 15% now believe they could buy within the next 12 months, up from 12% in December, while the proportion who say they could not purchase without family support has fallen from 59% to 52%.

NEW BUILD SOLUTION

Jatin Patel (main picture, inset), head of mortgages, savings and insurance at Barclays, said: “Movers often face battles on two fronts, as the abundance of long property chains adds acute stress into the process.

“The new build market can provide part of the solution, removing the chain links on the sell-side, but we also support reforms to modernise, digitise and ease the tension in the home-buying system.”

“The start of 2026 has shown encouraging signs for prospective buyers. Higher loan-to-value products have eased deposit requirements, with first-time buyers beginning to reap the benefits. However regional disparities underscore the importance of working with local brokers and to bring homeowners bespoke solutions for their needs.”

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