Memorandum of Sale Checklist

Transactions are taking longer than at any point in recent years, creating uncertainty for consumers and placing additional pressure on property agents working to keep chains together. Although market activity is showing some resilience, movers are facing waits of up to 17 weeks to exchange, exposing ongoing inefficiencies in the system.

New analysis of a decade of homemover data shows that buyers aged 50 – 59 are now the fastest-growing segment of the UK housing market. The findings highlight a significant shift in market activity that agents should factor into their business planning and service offerings. The growth of the older buyer group does not signal a decline in other segments. However, it does underline the importance of understanding who is driving transactions at any given time.

Propertymark supports the UK Government’s ambition to reform the home buying and selling process and agrees that change is long overdue. Reform must be practical, proportionate and focused on outcomes. By improving upfront information, raising professional standards, embracing digital solutions and reducing duplication, reform can deliver faster, more reliable transactions that work for agents, consumers and the wider economy.

The Property Ombudsman (TPO) has issued new guidance in responding to growing concern about the prevalence of aggressive practices in the home-buying process, empowering buyers to recognise and challenge unfair practices. With complaints on the rise and increased scrutiny from redress schemes and Trading Standards, estate agents should take time to review their processes, staff training and messaging to ensure compliance.