Property market regulation receives welcome

Posted: 21 Jan 2009 11:56:49 GMT

A report to the government calling for a more unified approach to regulation of the housing market has been well received by the National Association of Estate Agents (NAEA).

Professor Colin Jones authored the report, entitled the Government Review of Regulation and Redress in the UK Housing Market, for the department of Communities and Local Government.

In it, he suggested the UK would benefit from a more structured approach to the regulation of its housing market.

Professor Jones' report stated: "Complaints associated with the selling and purchasing of housing is predominantly focused on estate agents…and they are the least regulated of the professionals who participate in this transaction."

"The highest degree of consumer dissatisfaction in the housing market is in the private rented accommodation which is also the sector that has the least regulated professional services and very limited redress opportunities," it added.

The report comes as the opportunities for selling a home are widening, thanks to the internet.

Selling a home online may already prove more attractive to homeowners as a website has the potential to reach a greater number of buyers than an estate agents' window.



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