UK Property Market Reforms: Making Buying and Selling Homes Easier and Fairer

 

The UK Government is consulting on major reforms to modernise the home buying and selling process and improve estate agent property listings. The aim is to make transactions faster, more transparent, and more reliable for everyone involved. The consultation will run for 12 weeks, and feedback will shape the next stage of reform.

Key Proposals

• Mandatory Upfront Information: Sellers would need to provide key property details (such as council tax band, property type, and flood risk) from the start, helping buyers make informed decisions earlier.
  
  

• Digital Property Logbooks: Every home could have a digital record containing verified data about the property, cutting down on delays and confusion.
  
  

• Binding Contracts: Introducing conditional contracts could make deals legally binding sooner, reducing the risk of gazundering and gazumping which may lead to failed sales.
  
  

• Professional Standards: Estate, letting, and managing agents across the UK may soon need mandatory qualifications and must follow a new Code of Practice to ensure consistent, high-quality service.
  
  

• Better Consumer Understanding: Guidance will help the public know what to expect from property professionals, how to compare them, and where to turn if things go wrong.
  
  

• Technology and Transparency: The reforms promote digitalisation and clear, trusted data sharing to make the process simpler, quicker, and more secure.

 

At Taylor & Co, we welcome the opportunity to provide feedback on these proposals. Any improvement to the buying and selling process which is outdated and antiquated is to be applauded, particularly if it cuts transaction times, and saves buyers and sellers money.