The government’s latest consultation on home buying and selling could mark one of the biggest shake-ups in the property market for over a decade. Announced in early October, the proposed reforms aim to modernise the conveyancing process, reduce transaction times and, perhaps most importantly, rebuild trust between buyers, sellers and agents.
For much too long, property transactions in England and Wales have been mired in inefficiency. On average, a sale can take more than five months to complete, with roughly one in four deals falling through before exchange. The government’s 12-week consultation, now open to public and industry feedback, seeks to tackle that problem by introducing greater transparency and encouraging digital integration across the entire chain.
Under the proposals, estate agents, conveyancers and mortgage lenders would be required to share key data earlier in the process. This could include title information, local authority searches and leasehold details made accessible through a standardised digital pack. By moving towards a system where critical information is available upfront, ministers hope to remove many of the delays that occur after an offer has been accepted.
Faster transactions could mean greater liquidity in the residential market, allowing funds to be redeployed more efficiently and reducing exposure to changing financial conditions. For developers and portfolio managers, it could also ease the strain of pipeline delays that often slow completions and cash flow.
Yet the proposals also raise questions about data management and consistency. The success of a more transparent, digital system will depend on how effectively it integrates with existing local authority databases, many of which vary widely in quality and accessibility. Smaller conveyancing firms may struggle with the initial technology costs, while agents will need to adapt to new compliance expectations.
There is also the human element. Property transactions are as emotional as they are financial, and not every buyer or seller will embrace a more automated, information-heavy process. The challenge for policymakers will be to simplify without depersonalising what remains, for most people, the most significant purchase of their lives.
Still, this consultation reflects a rare consensus: that the current process no longer fits a 21st-century market. If the reforms are implemented in full, investors could see a smoother, more reliable property ecosystem emerge, one that replaces uncertainty with clarity and speed.
For now, the industry will watch closely as the consultation unfolds. A faster market may finally be within reach, but as ever in property, the details will determine whether the promise becomes reality.
