How can the government build the housing supply?
Reform of the house-buying process needs to be focused on if the government is to fix the housing crisis.
This is according to Harpal Singh of Broker Conveyancing, who drew attention to the lack of political clarity following the recent snap election.
Despite all of the manifestos promising a dedication to growing the UK housing supply to match demand, Singh highlighted the difficulties and delays this process was bound to be subject to, especially as it will require significant State intervention.
In addition to formulating an effective supply strategy, Singh then mentioned the home-buying process itself.
Hoping the new government would prioritise this alongside increasing the housing stock, he stated that a focus on its reform was required.
Resigning to ‘blunt’ness, Singh criticised the current state of conveyancing firms, mentioning that many are not up to date in their systems, which further hinders the slow transaction process.
Whilst acknowledging that many conveyancers may not share his views, he emphasised that his main focus was on the consumer and their experience of the home-buying process.
‘If we’re not looking to get a better process for the consumers, who are we looking to get one for?’
Rather than simply for the benefit of the individual firm, Singh stressed that changing conveyancing was something that needed to occur industry-wide. Although implementing new technology and introducing new systems is likely to require an attitudinal shift, Singh stated that by utilising the new tools available, the whole process was likely to improve.
Advising conveyancers, Singh concluded by encouraging firms to take the initiative and to improve the home buying process for their clients at the earliest opportunity.
‘We may be waiting some significant time before the process changes in order to get everyone out in front.’