Reform of the Property Sector - What’s on the Horizon?
Susie Crolla Susie Crolla

Reform of the Property Sector - What’s on the Horizon?

A shift in towards regulation of the property sector is on the horizon within social housing and the Private Rented Sector.

Social Housing

It all began with former Housing Secretary Michael Gove’s announcement in 2023 that Social housing managers would be required to gain professional qualifications under the Social Housing (Regulation) Act 2023 to protect residents and raise standards in the sector and rightly so, in part as a result of the Grenfell Tower tragedy and in memory of two-year-old Awaab Ishak, who tragically died in 2020 due to prolonged exposure to severe black mould.

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Breaking News - Government announces Major Home Buying Overhaul
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Breaking News - Government announces Major Home Buying Overhaul

PRESS RELEASE

Ministry of Housing, Communities and Local Government and The Rt Hon Steve Reed OBE MP

Hundreds of thousands of first-time buyers are set to save £710 on average when buying a home, along with vital time and energy, thanks to the biggest shakeup to the homebuying system in this country’s history. 

Proposals unveiled by the government on Monday 6 October will speed up the long-drawn out and costly process of buying a home by four weeks, saving people money and unnecessary stress, alongside wider reforms to rewire a chaotic system which has become a barrier to homeownership.  

It will see sellers and estate agents required under the plans to provide buyers with vital information about a property upfront, including the condition of the home, leasehold costs, and chains of people waiting to move. This will help end nasty surprises which result in last-minute collapses and give greater confidence to first-time buyers making one of life’s most important decisions. 

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