Government Launches Landmark Home Buying and Selling Reform Consultation

The UK property market is set for one of its most significant transformations in decades. The Government has officially launched a Home Buying and Selling Reform Consultation Group, designed to oversee what has been described as “the biggest shake-up to the home-buying system in this country’s history.”

This 12-week consultation aims to make the property transaction process faster, more transparent, and less costly for both buyers and sellers. Estimates suggest that the proposed reforms could reduce transaction times by up to four weeks, while first-time buyers could save an average of £710 on the cost of purchasing a home.

At DG Property Management Ltd, we welcome this forward-thinking initiative, as it reflects a growing commitment to modernising the property market and addressing long-standing challenges that affect our clients and industry partners.

🔹 Key Areas of Reform:

1. Introduction of Binding Contracts

One of the most promising proposals is the introduction of binding contracts between buyers and sellers. This change aims to minimise the risk of either party withdrawing midway through negotiations — a situation that currently leads to wasted time, stress, and financial losses. Binding agreements would provide greater certainty and trust in the process.

2. Mandatory Upfront Information

Transparency is at the heart of these reforms. The proposal calls for the publication of mandatory information before a property listing goes live.This would empower buyers to make more informed decisions earlier in the process. Key details would include:

• Tenure and title information

• EPC rating and council tax band

• Property type and age

• Leasehold terms and service charges

• Flood risk and building safety data

• Planning consents and chain status

• Clear, detailed floor plans

Providing this information upfront would help reduce fall-throughs, prevent unexpected issues later on, and ensure that all parties enter negotiations with confidence.

3. Digital Tools and Standardised Data

A major focus of the consultation is digital transformation. The proposed introduction of digital property logbooks, digital ID verification, and standardised data sharing would make the entire process smoother, faster, and more reliable.By integrating these tools, estate agents, conveyancers, and buyers would gain real-time access to accurate information — an essential step toward creating a modern and connected property ecosystem.

4. Code of Practice and Professional Standards

To ensure consistent quality and accountability across the sector, the government also plans to introduce a mandatory Code of Practice and professional qualifications for estate, letting, and managing agents.This measure is expected to elevate service standards, increase trust, and enhance professionalism across the UK property industry.

🔹 Industry Reaction

The response from property experts and industry leaders has been largely positive.Kate Faulkner OBE, Chair of the Home Buying and Selling Council, praised the initiative, stating that “there has never been a better moment to address these challenges positively,” highlighting the importance of collaboration across the industry to make the process smoother and less risky.

Similarly, Paul Whitehead, CEO at Zoopla, described the proposals as “a vital step towards creating a faster, more transparent and trusted property market.”

While some legal experts have raised questions about the practicalities of early binding contracts — especially for buyers requiring mortgages — the overall consensus points to optimism and momentum for meaningful change.

🔹 What This Means for Buyers and Sellers

If implemented, these reforms could mark a turning point for everyone involved in property transactions:

• Buyers would gain quicker access to essential information, helping them make informed decisions and avoid unexpected costs.

• Sellers could benefit from fewer failed transactions and a more predictable sales process.

• Agents and property managers would see greater efficiency and client trust through clearer standards and digital tools.

At DG Property Management Ltd, we are committed to embracing these improvements and continuing to provide transparent, efficient, and high-quality property management and investment services. As the property landscape evolves, our goal remains the same: to simplify the process and deliver outstanding experiences for our clients.