Latest News

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First time buyers hold many misconceptions

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HMRC highlights money-laundering breaches and penalties

18 September 2019

HMRC’s list of business penalised for breaches of money laundering regulations has been updated. The businesses, which include financial services companies and estate agents, are listed on the gov.uk website detailing breaches that occurred in the 2019-2020 tax year. Read More...

Agent fees take a back seat as availability and quality concern consumers

Thursday 08 August 2019

An annual HomeOwners’ Alliance consumer survey on housing concerns suggests that estate agent fees place low on the list behind house prices, housing availability and mortgage availability.

The survey questioned 2,195 people from across the UK about their housing worries.

Affordability and availability were the biggest issues, with respondents citing saving for a deposit (85 per cent) and house prices (82 per cent) as a problem. The availability of affordable housing was a problem for 76 per cent of those questioned. This rose to 87 per cent among first-time buyers.

Mortgage availability and payment was a concern for more than three fifths of those questioned.

Housing quality was the fastest rising issue. Up 6 per cent from 2018, more than two thirds of those questioned are worried about the quality of homes. The proportion of UK adults saying the leasehold system is a serious problem – 60 percent – is up 4 percent in 2019 and up 18 since 2015.

Estate agents’ fees features much further down the list at 58 per cent.

Chief Executive of the HomeOwners Alliance, Paula Higgins, said: “Problems in our housing market have reached a crisis level. Government needs to rethink its approach by thinking more holistically and longer-term.

“We crave a stable functioning housing market that delivers for everyone. From those struggling to get on to the ladder to those who find themselves at the whim of the leasehold system. Our annual survey shows more first-time buyers than ever before reporting their struggle to get on the ladder. It also demonstrates how government and industry is failing a whole generation. Our survey shows that although we are building more, we are not building better.”

“And it also tells us that we cannot underestimate the importance of people’s homes – they effect everything from feeling secure and safe to our well being.”

 

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