Thomas H Wood has welcomed the UK Government’s plans to modernise the home buying and selling process, describing the proposed introduction of mandatory upfront sales packs as the most significant reform the property sector has seen in years.
The reforms, announced today, aim to reduce delays, lower costs and prevent property transactions from collapsing by introducing greater transparency and digitisation across the home moving process.
Among the measures outlined is a proposal to require sellers to provide key information about a property before it is listed for sale. The proposed sales packs would eventually include searches, a property condition report, leasehold information and other important details designed to help buyers make informed decisions from the outset.
The Government estimates the changes could reduce transaction times by around four weeks and save first-time buyers an average of £650.
Simon Dews, Head of Sales at Thomas H Wood, said:
“Anyone who has bought or sold a home recently will understand just how frustrating the process can be. Transactions often take months to complete, and too many fall through because important information only comes to light later in the process.
“The proposal to introduce mandatory sales packs before a property is marketed is undoubtedly the biggest step forward in these reforms. Providing buyers with key information upfront should reduce uncertainty, minimise delays and help all parties make better informed decisions from the very beginning.
“However, while the direction of travel is positive, it’s important to be realistic about the timescales involved. The reality is that nothing is going to change as quickly or as drastically as it’s needed. The proposed changes will help, but buyers and sellers are unlikely to feel the full benefits anytime soon.
“Much of the work over the next two years will focus on consultation, guidance and voluntary adoption. The mandatory sales packs that could have the greatest impact are not expected to become law until later in this Parliament.
“That said, this is still the most significant step forward we’ve seen in a long time. The industry now has clarity about where the market is heading, and businesses can begin preparing for a future that is more transparent, more digital and ultimately more efficient for consumers.”
The Government’s roadmap includes immediate measures to improve property listing information, develop a code of practice for estate agents and encourage the adoption of digital tools such as electronic signatures and digital identity verification.
Further consultations are planned between 2027 and 2028, including proposals for mandatory qualifications for estate agents, digital property logbooks and binding contracts.
Future legislation is expected to require sales packs before listing, introduce binding conditional contracts and establish digital sales packs and property logbooks as standard features of property transactions.
Thomas H Wood believes the reforms represent a positive step towards creating a more transparent and efficient property market, while recognising that meaningful improvements will take time to be fully realised.
