Andy Sommerville, Director, Search Acumen commented:
“While MHCLG has previously provided some pertinent guidance for improving the home buying and selling process, more needs to be done at a time when the market is struggling with delays and failing to match rising levels of demand. Industry commitment is now needed to take its guidance one step further.
“The time has come for concrete action to cut down search delays once and for all. While MHCLG’s call for providing more information upfront is spot on, it lacks teeth. What is needed is the right digital tools to arm conveyancers and commercial real estate lawyers with crucial information to mitigate risk and act earlier on behalf of clients.
“We need a leap forwards in due diligence that provides much more than just a short-term fix for property transactions. Better use of data and technology is crucial in tackling the surge in property demand. Firms adopting digital innovations are best placed to lead the market into a ‘new normal’ by providing better advice and service to clients in the long-term.”