The Levelling Up, Housing and Communities (LUHC) Committee has today launched an inquiry on improving the home buying and selling process in England.
The cross-party inquiry will examine the transaction process, the information available to buyers, and the role of conveyancers and estate agents. Clive Betts, Chair of the Levelling Up, Housing and Communities Committee, said:
“The process of buying and selling a home in England is often stressful for those involved. Indeed, despite there being around two million households who successfully buy or sell their home each year, consumers often find the process is not as efficient, effective, or as consumer-friendly as it could be.
As part of this inquiry, we will look at the chief obstacles to improving the process of buying and selling a home. We will be keen to examine issues such as the time taken to complete a transaction and challenges in finding the right information. Topics such as a lack of transparency around conveyancing services, the payment of ‘referral fees’, and the weak regulation of estate agents will also be on our agenda in this inquiry.”
The key questions for the Committee inquiry are included in the full terms of reference. Evidence sessions for this short inquiry are likely to begin in late April 2024. The Committee are likely to question consumer, professional and industry bodies, and to conclude with questions to the Department for Levelling Up, Communities, and Housing Minister.
The Committee welcomes written evidence on the terms of reference outlined below. The closing date for submissions is Thursday 18 April ahead of an expected evidence session in April. Sheila Kumar, Chief Executive at the Council for Licensed Conveyancers said:
“We welcome MPs recognising the very great importance of reform of the home buying and selling process. Upfront information, digitisation and streamlining of the process will all be key in ensuring smoother, faster and more secure transactions that lead to better outcomes for consumers. The demands of operating the housing market under pandemic restrictions played a part in moving things along, but the pace of progress needs to be maintained if we are to deliver all the potential benefits of reform to consumers and the economy.
Industry groups such as the Digital Property Market Steering Group and the Home Buying and Selling Group have been doing fantastic work to focus on what is needed, and this inquiry will provide a useful test of the direction of travel and galvanise the huge number of organisations and individuals that will need to deliver improvement. We look forward to providing evidence and working with the inquiry team.”
