Posted: 30th September 2024

"Adopt the Oz model to speed up UK property sales" preached Reapit

Reapit, a technology provider, believes that the home buying and selling experience could see immediate enhancements if the government were to implement Australia’s system, where properties typically sell within 30 to 40 days, in contrast to the 25 weeks required in the UK.

In a recent contribution to an inquiry conducted by the Levelling Up, Housing and Communities Committee Commons Select Committee focused on refining the home buying and selling process, Reapit outlined various strategies that could enhance this experience in England.

Ideas included sellers being pre-qualified with finance and due-diligence details to be shared digitally with agents and conveyancers by mortgage lenders; mortgage lenders to guarantee offers for six months and searches and surveys completed when a property comes to market.

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