Search Acumen comments on falling enquiries to estate agents and the Right to Buy policy announcement
Andy Sommerville, Director at Search Acumen, comments: “Today’s news of falling enquiries to estate agents last month shows a property market continuing to find its equilibrium after a rollercoaster ride over the last two years.
“Looking ahead, we can only hope the Eighties tribute act of Government housing policy is quickly followed up by greater commitments to deliver genuine transformation and create a property market fit for the 21st century. No-one can question the desire to make homeownership more accessible, but Right To Buy v2.0 is not a sequel that aspiring buyers will be flocking to see in meaningful numbers.
“We need broader structural reform to planning and construction that goes beyond political soundbites, and accelerated tech adoption in place of endless talk about turning Generation Rent into Generation Buy.
“Anyone who has recently endured the process of buying a home may easily have been left emotionally scarred by the experience. In the age of Amazon, Netflix and Uber, it beggars belief that the biggest financial commitment most people will make in their lives often relies on processes which leave buyers and sellers in the dark, while their conveyancers battle legacy technology and systemic flaws.
“The pandemic showed what can be done with a collective will and focus to put aside the doubts and embrace the inevitability of digitisation. Over the last decade, the average conveyancing firm’s caseload has more than doubled and digital-first solutions are the only way to remain competitive in today’s market.”