As Peers debate the Housing Bill today the National Association of Estate Agents (NAEA) reiterates its call for the Government to preserve consumers’ rights with certain aspects of this legislation.
In a recent survey of their 10,000 member agents across the country, a staggering 79.2% stated that they believe the proposals as they stand will damage the housing market, with 43.9% believing this damage will be severe and less than 5% expecting the market will be improved by the proposals.
The proposals for Home Information Packs (HIPs) contained within the Bill will effectively abolish the right for sellers to immediately market their home as soon as they put it up for sale.
The NAEA is concerned that this will restrict activity and is calling for marketing to be allowed whilst the HIP is being prepared, a process that could take several weeks.
An amendment on this was proposed by members of the House of Lords during the Bill’s report stage last month but it was withdrawn on the basis that existing clauses within the Bill may be able to incorporate its objectives.
However the NAEA is concerned that these clauses will not be adequate and urges the Government to reconsider and the opposition parties to reinstate the NAEA’s amendment.
Peter Bolton King, Chief Executive of the NAEA comments: “The NAEA supports improvements to the house sale process but we are concerned that aspects of the Housing Bill are to the detriment of the consumer."
“Our major concern is to allow homes to be marketed from day one. The proposals as they stand will mean that an agent cannot even show someone around a property until its HIP has been compiled. That’s absurd and we hope the government will accept an amendment to allow first day marketing to take place while a pack is being assembled and realise the detrimental effect this will have on the UK’s housing market.”
The government has repeatedly said that HIPs should make home sales faster not slower and the consumers' association, Which? says the packs would increase transparency and cut the time it takes for a house sale to go through.
"For too long, estate agents have got away with providing misinformation about properties and have escaped any real regulation when things go wrong," Which? spokeswoman Emma Harrison said.