The continuing rise in house prices which have occurred both prior to and following COVID clearly show that the proposals set out on these pages for re-shaping house-marketing are both fully justified and long overdue.
The noticeable reduction in the number of sellers putting their houses on the market is a clear indication of the general concern for not being able to successfully move house, owing to the unexpectedly rising house prices causing general market instability.
The argument being put forward about estate agency today is that the service provided no longer supplies an arms length advisory service to either buyers or sellers. To explain this the market definitions below are the current definitions of what ought to be expected by all housing agents’ clients.
Market Value advice is defined as:
The estimated amount for which an asset should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.
Market rent advice is defined as:
The estimated amount for which an interest in real estate property should be leased on the valuation date between a willing lessor and a willing lessee on appropriate lease terms in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.
Market Approach advice:
The approach that provides an indication of value by comparing the subject asset with identical or similar assets for which price information is available and about which price adjustments can duly be made.
So, here on this web site is the full reasoning explaining what is needed to finally improve all the housing markets across the whole of Britain? If you follow the link below you will find yourself on that very page. Please enjoy this offering and by all means comment if you have thoughts of your own about this.
This site proposes changes to the whole way in which houses are marketed by agents as well as bringing in far more effective planning controls.
For more information on the necessary house marketing changes, go to:
“Introducing The House Price Solution”
Posted by: Peter Hendry, Consulting Valuation Surveyor
Author of:– The House Price Solution
Please also note. Unless things change significantly along the lines explained, countless people will continue to experience considerable financial anxiety or pain so, please sign our petition.
The link below opens this is in a new tab for you to look at.
The cost-effective way to stabilise housing affordability across the whole of Britain
Your action in asking our government to debate this could help bring about all of these much needed changes.