Will a new PM be able to jumpstart the property market?
Summary
The article argues that political change and wider economic uncertainty have left the property market subdued, with low mortgage approvals and a high proportion of homes remaining unsold. It highlights government proposals to improve home buying and selling, including greater transparency, sales packs and professional qualifications, as potential ways to rebuild confidence and reduce transaction fall-throughs.
Why it matters
Residential property surveyors are affected by transaction volumes, buyer confidence and the quality of information available during sales. Any reforms to the buying process, professional standards or upfront disclosure could change how surveyors advise clients and interact with agents, conveyancers and auction processes.
Key points
- The market is described as near a standstill amid economic and geopolitical uncertainty.
- Zoopla and Bank of England data are cited as showing weaker sales and mortgage approvals.
- The Home Buying and Selling Reform Roadmap is presented as a route to greater transparency and fewer fall-throughs.
- Upfront information and sales packs are compared with long-established auction legal packs.
- The article supports qualifications and best practice for property professionals to improve trust.
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