The Royal Institution of Chartered Surveyors (RICS) has pledged to work with prime minister Andy Burnham’s government to maintain momentum behind reforms to the homebuying and selling process.
Responding to Burnham’s appointment, RICS chief executive Justin Young said improving the housing market should be an early priority, arguing that transactions take too long and too many fail to complete.
According to the latest RICS UK Residential Survey, the average property transaction takes 120 days and around one in three sales fell through in June.
Young said: “A clear opportunity to make a practical difference to people’s lives is to improve the way homes are bought and sold. Purchasing a home should be straightforward, but transactions take too long and far too many fall through.
“Buyers and sellers often face unnecessary costs, uncertainty and stress.”
He said RICS would support the government in implementing homebuying and selling reforms.
Young also welcomed the prime minister’s commitment to expand council housebuilding, but said delivery would depend on local authorities having the skills, resources and professional support needed to bring forward new homes.
He added that attracting domestic and international investment would be essential to meeting housing and infrastructure ambitions.
“Creating a business environment which promotes confidence for investors goes together with regulatory and planning reform,” he said. “Clarity and confidence is the motor for investment and results, not just for housebuilding, but across all sectors of the built environment.”
