Property industry comes together to call on Government to support home moving market efficiency
A coalition of leading businesses from across the property industry have united to call on the Government to support improving speed and efficiency in the home moving process.
In an open letter to the Secretary of State for Housing Michael Gove MP, businesses including Landmark Information Group, Mortgage Advice Bureau, L&C Mortgages, Yopa, Simplify, O’Neill Patient, Enact, and TwentyCi, have set out their collective desire to work with the Government to ensure that the home buying and selling process works better for movers and businesses.
The industry calls for supportive action from the Government comes as the property market has been getting slower and less responsive, with transactions reported to take 133 days to complete, almost 80% longer than in 2007, according to data from Landmark Information Group.
The letter calls on the Government to work alongside businesses across the sector to create a new Time to Buy strategy that will set out a plan for the future of the market and support businesses to take up technology and innovative solutions.
Simon Brown, CEO for Landmark Information Group, said:
“The UK’s home-moving process suffers from systemic challenges, with duplication and inefficiencies leading to delays for home-movers.
“This is both stressful and frustrating for home-movers, and enormously wasteful for property professionals.
“We want to create a more efficient and better-connected market, where everyone benefits from shared data and insights.
“To achieve this ambition, we’re bringing the industry together to call on Government to drive forward reform to make the home-moving process work better for everyone.”
Verona Frankish, CEO for Yopa, said:
“The Time to Buy strategy is vital for the continued health of the property market, and the needs of home movers all over the UK so that transactions can take place in a reasonable timeframe and with certainty.”
Ben Thompson, Deputy CEO for Mortgage Advice Bureau, said:
“The UK needs a fluid housing market where people who need to move home can do so with confidence and also with a far greater degree of ease.
“By solving this problem and achieving this, not only will this make people’s lives easier, but the UK economy will also benefit from the multiplier effect of more home moves each year, and that has to be a good thing too.”
Kindly shared by Landmark Information Group
Main article photo courtesy of Pixabay
