The next phase of the material information rules for estate agency listings will begin this Autumn, it has been revealed.
Part A of the project put forward by the National Trading Standards Estate and Letting Agency Team (NTSELAT) requires all property listings to contain the property’s council tax band or rate and the property price and tenure information (for sales).
This was finalised as of May last year, with Part B and C having since been anticipated to follow. This next phase will require agency listings to include information such as restrictive covenants, the utilities available within a property, flood risk, and other specific factors that may have an impact upon certain properties or influence a transaction decision.
James Munro, head of the NTSELAT, provided some clarity on the timelines at the recent Propertymark One conference held in London. He said:
“Thanks to the commitment of the property portals, we are already seeing listings with more detailed information on leasehold and other information such as council tax.
This year, in early Autumn I am told we will start seeing early stages of information on utilities, building safety issues and flood risks.”