25
Jun
Home purchases delayed by council inefficiency
Property purchases are being delayed because homebuyers are waiting
up to 120 per cent longer than a year ago for the council to
provide essential information relating to the transaction,
according to new research.
The study, carried out by property data company OneSearch Direct,
found that the length of time people have to wait for property
search documents from local councils is something of a postcode
lottery.
In the west London borough of Hillingdon, for example, it takes an
average of 44 days to return search data - a huge increase on last
year's average of 20 days. By contrast, the borough of Crawley
manages an average of just 2.25 days.
Ronnie Park, managing director at OneSearch Direct, described it as
"ludicrous" that there is such a big disparity in councils'
efficiency.
"With the market slowing down, it's more crucial than ever that we
ensure best practice regardless of postcode - or there could be
serious timing, cost and liability implications for consumers," he
added.
The number of properties changing hands continues to decrease, with
new data from HM Revenue and Customs revealing that the number of
housing transactions fell by nearly 37 per cent year-on-year in
May.
