Landmark Information Group has introduced a search bundle designed to assist estate agents and property professionals in preparing for the Government’s proposed home buying and selling reforms.
The Sales Pack Ready kit combines a Personal Local Search, a Drainage and Water Search and Homecheck Residential, with condition reports also available through the property data provider. The package provides access to search and property condition information identified in the Government’s reform proposals.
Transaction times increasing
The launch follows Landmark’s data showing that the average time from instruction to completion has increased to 123 days, representing an 18% rise since 2019 and a 64% increase since 2007. The extended transaction times have prompted calls for greater efficiency in the property market, with recent monetary policy decisions adding further complexity to market conditions.
The sales pack represents the first in a series of reform-ready solutions from Landmark, according to the company. Landmark is a signatory to the Project 28 Charter, an industry initiative bringing together organisations committed to faster, more transparent transactions through earlier availability of property information.
Industry adaptation required
Simon Brown, Chief Executive at Landmark Information Group, stated: “The move towards greater upfront property information, through Project 28 and alongside Government reforms, will require every part of the market to adapt how transactions are prepared and how information is shared.”
He added that the solution represents “an important step in helping the industry move towards transactions that are better informed, more connected and more certain from the outset.”
The development comes as the property sector navigates regulatory changes, with various market participants seeking to streamline processes. Recent activity in the sector has seen developments ranging from significant development financing to alternative property conversions, all requiring efficient transaction processes.
The Government’s home buying and selling reform roadmap aims to reduce transaction times and increase transparency in property sales. Landmark’s package is positioned to align with these forthcoming regulatory requirements, though specific implementation timelines for the reforms have not been confirmed.
