Is Buying a Home in London About to Get Easier?
It’s no secret, moving house is stressful! According to a 2023 survey by Yopa, 57% of Brits say it’s more stressful than divorce, changing jobs or even having children. But with new government proposals, buying a home could soon become a smoother process for buyers and sellers alike.
Why Is Moving So Stressful?
Buying a property comes with endless paperwork, broken chains, expiring mortgage offers and months of uncertainty. In fact, more than one in four property transactions in the UK fall through before completion, costing buyers time, money and peace of mind.
It’s not just a logistical challenge. It’s emotional too. Hopes rise and fall with every call, every email and every delay. At Interlet, we’ve seen first hand how uncertainty can dampen the excitement of finding a dream home in London.
What’s Being Proposed?
The UK government has announced what it describes as the biggest reform of the home-buying process in decades. The proposed changes aim to make transactions faster and more transparent through:
- More upfront information from sellers
- Digital property logbooks
- Standardised data sharing between parties
- Early binding agreements
WHY This Matters
If these reforms succeed, we could see:
- Fewer fall-throughs
- Shorter timelines from offer to completion
- Greater market stability
- More confidence for landlords, tenants, and homeowners
A simpler, faster process would encourage more people to move, not only when they have to, but when they want to. As property professionals, Interlet welcomes any reform that helps clients navigate the housing market with less stress and greater certainty.
Could It Unlock the Market?
The average homeowner in England now stays in one property for around 17 years, compared to just 9 years in the 1980s, according to data from the English Housing Survey. The reason is simple. Moving is a hassle.
If the process becomes easier, more people may choose to upsize, downsize or relocate within London helping ease housing pressures and keep the market moving.
Change is coming and for once, it’s something to feel optimistic about.
