In the often-frustrating world of buying and selling property, delays and fall-throughs are a persistent challenge. However, in an announcement on 5th October, the Ministry of Housing outlined plans for a significant reform of the homebuying and selling process which could mark the most significant overhaul of the housing market in a generation.
At the heart of the proposals is a new requirement for sellers and estate agents to provide detailed upfront information – including property condition, leasehold charges, and chain status – before a home can be listed. The aim is to reduce collapsed transactions, shorten timelines and make the make homebuying process faster, cheaper, and more transparent Additional measures also include digital property logbooks, tighter regulation of estate agents, and a public register of property professionals to be introduced to help modernise the current system.
Simon Jackson, CEO of SDL Surveying, welcomed the move, saying:
“The existing system is slower than it should be and enables too many potential transactions to fail to complete, with buyers provided with an inconsistent level of information about the property they are purchasing. The reforms seemed to be focused on the right areas to achieve the stated aim of ‘Delivering a faster, more reliable home buying and selling system, driven by informed consumers, innovative technology and high-standard professional services’. We look forward to seeing the outcome of the consultation process.”
While these proposals are ambitious, they are not without precedent. Scotland’s established Home Report system offers a practical model for how upfront information can improve market outcomes.
The Scottish home report system is a valuable reference point
In Scotland, it is a legal requirement for most residential properties to be marketed with a Home Report, which is a set of documents that give buyers clear insight into the property’s condition, value, and energy performance before an offer is made.
Compiled by a qualified RICS surveyor instructed by the seller, the Home Report consists of:
- Single Survey – An assessment of the property’s condition, structure, and market value.
- Energy Performance Certificate (EPC) – A breakdown of the home’s energy efficiency and potential improvements.
- Property Questionnaire – A seller-completed form detailing legal and practical information, such as council tax band, previous alterations, and parking availability.
As this information is made available before a property is listed, buyers are better informed, and sellers are encouraged to resolve issues ahead of marketing the property.
How England and Wales differ today
In the current system across England and Wales, the homebuying process follows the same steps, but in a different order. A surveyor’s valuation and home survey, providing a professional assessment of the property’s condition, typically take place only after the buyer’s offer has been accepted. This sequencing can lead to unforeseen issues and increases the risk of transactions falling through.
According to data from 2024, around 28.8% of sales in England failed to complete. These fall-throughs not only create stress and frustration for buyers and sellers alike, but also have a significant economic impact, with the Government estimating an annual cost of £400 million and the loss of around four million working days for property professionals.
How Scotland’s system helps
By shifting the responsibility to the seller and making surveys compulsory before marketing a property, the Scottish system ensures greater transparency from the outset. This approach has seen the fall through rate in Scotland fall below 10%, which is significantly lower than in England.
Scotland’s system allows sellers to be able to price their property more accurately and resolve issues early, reducing the risk of complications later and creating greater buyer confidence. Moreover, upfront surveys mean fewer surprises, fewer renegotiations, and fewer emotional or financial setbacks. It also shifts the responsibility, and cost, of surveys to the seller, removing a key barrier for first-time buyers already stretched thin by deposits and legal fees.
Watch this space
With the UK Government now committed to reforms that prioritise upfront information, transparency, and legally enforceable commitments, the momentum for change is finally building.
While the newly proposed measures are a welcome step forward, their success will depend on how thoroughly and effectively they are implemented. The lessons from north of the border are clear, but whether they can be successfully integrated into the government’s plans for England and Wales remains to be seen.