Phil Spencer backs new rules to reduce number of house sale collapses

The Location, Location, Location host has welcomed proposals that ministers say could cut around four weeks from the home-buying process by forcing sellers to reveal key information upfront and speeding up transactions through digital technology.

Spencer said the reforms tackle many of the frustrations buyers and sellers have faced for years.

“I welcome these proposals – they address many of the issues consumers have been grappling with for years, from a lack of upfront information to unnecessary delays and last-minute surprises,” he said.

The changes are designed to modernise a system that currently leaves many movers facing months of uncertainty.

According to property portal Rightmove, the average home sale takes around 170 days to complete, while more than one in five transactions falls through before completion.

Under the proposals, sellers and estate agents would have to provide detailed “sales packs” when a property is first listed, setting out information such as the home’s condition, leasehold charges and chain status.

The Government believes giving buyers access to crucial information earlier could reduce the number of deals collapsing after surveys, searches and legal work have already been carried out.

Paper-heavy processes could also be replaced by digital property logbooks, electronic signatures, digital identity checks and AI-assisted conveyancing tools.

Prime Minister Sir Keir Starmer said the current system too often leaves families “in limbo”.

“We’re turning the page,” he said. “Our reforms will bring this outdated process into the modern age, saving people time and money, and giving them the certainty they deserve.”

Housing Secretary Steve Reed described the current process as a “drawn-out nightmare of delays, hidden costs and failed deals”.

He said the reforms would make transactions “faster, fairer and more secure” while giving buyers and sellers greater certainty.

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Industry leaders have also backed the plans.

Zoopla chief executive Paul Whitehead said homeowners “deserve better than a home-buying process that takes months, falls through too often, and leaves everyone poorer for it”.

The Government intends to roll out the reforms gradually over the rest of this Parliament, with legislation covering sales packs, binding agreements and digital systems expected before the next election.

For first-time buyers especially, supporters believe the changes could mean fewer nasty surprises, less stress and a much faster route to home ownership.