Government Announces Plans to Speed Up Homebuying & Selling
On Monday, the government announced plans to speed up the homebuying process and save first-time buyers valuable money. The proposals aim to make buying a home quicker and more affordable by reducing transaction times by up to four weeks, while also exploring wider reforms to modernise a system that has long created barriers to homeownership.
What Will Change?
Binding contracts could be introduced earlier in the process to help reduce the risk of chains collapsing and prevent gazumping – this occurs when a seller accepts a higher offer after already agreeing to sell to someone else.
Under the new plans, sellers and estate agents will be required to provide buyers with key information about a property upfront, such as its condition, any leasehold costs, and details of any chains involved in the sale.
Reactions So Far
The announcement has received warm reviews so far from industry giants such as Rightmove’s Chief Executive Johan Svanstrom, who said “We look forward to working with the government on this effort to improve the buying and selling process.”
CEO of Zoopla, Paul Whitehead, stated “At Zoopla, we are committed to working closely with industry and government, and to investing our resources, to help build a modern property ecosystem that is faster, more transparent, and trusted by all.”
Beth Rudolf, Director of Delivery at The Conveyancing Association, said “The Conveyancing Association welcomes these reforms, which we and other industry stakeholders have long campaigned for, in order to deliver a better home selling and purchase experience for all.”
So What Happens Next?
The government has now opened a 12-week consultation period to gather feedback on the proposed reforms from industry professionals, homebuyers and the wider public. The consultation will remain open until 11:59pm on 29th December 2025, after which responses will be reviewed before the government confirms its next steps.
At PALI, we’ll be keeping a close eye on these developments and will continue to share updates as the story unfolds.
