Majority of estate agents believe house-buying process is dated
Most estate agents (79%) think that the housebuying process is outdated, the NAEA Propertymark Housing Report suggests.
This comes as the government announced it will consult on the housebuying and selling process.
Mark Hayward, chief executive at NAEA Propertymark, said: “The government’s announcement last weekend that it will consult to reform the home-buying process couldn’t come soon enough, and we welcome it.
“Our findings show that estate agents agree, and would welcome changes to ensure the process for buying and selling is brought into the 21st century.
“The current prolonged process means sales are stagnating despite the fact that the supply of housing is up, and there is growing demand.
“Hopefully we will see activity pick up marginally in the short-term, when properties which are being marketed now are taken off the market and pushed through, so buyers can be in before Christmas.”
During September, the number of house hunters registered at estate agents rose to the highest level since March at 394 on average per branch.
The number of properties available to buy on estate agents’ books increased from 37 in August, to 41 in September which is also the highest number recorded since March.
The proportion of sales made to first-time buyers was 23% in September which is also the same as figures seen in July and August.