The OFT Property Searches Report
References: 174/05 21 September 2005
Chance to reform property search market Better access and more competition required, says OFT
Property information held by local authorities in England and Wales should be made more readily available to people buying and selling property and their agents, said the OFT in a study published today.
The UK Office of Fair Trading (OFT) published its report on the market study on Property Searches
The report is made up of a number of sections and are accessible from the Property Search Market study web page.
Property Searches a Market Study (OFT810 - 88 pages)
Survey of consumers (OFT810a - 20 pages)
Survey of conveyancers (OFT810b - 62 pages)
Mystery shopping exercise (OFT810c – 42 pages)
Survey of local authorities (OFT810d - 64 pages)
Legal framework in England and Wales (OFT810e - 79 pages)
Legal framework in Scotland (OFT810f - 21 pages)
National Land Information Service (OFT810g - 17 pages)
Other property information holders (OFT810h - 16 pages)
Parties Consulted (OFT810i – 12 pages)
Specimen property search forms (OFT810j - 16 pages)
The UK Government responded on the 23rd December 2006.
The UK Department of Trade and Industry press release
Title:
Consumer Minister brings Competition to Property Search Market (3 pages)
Government response to Office of Fair Trading (OFT) Property Searches Market Study (11 pages)
URN 05/1946 December 2005
The OFT Response to the Governments plans
“OFT welcomes Government plans to reform property search market
23 December 2005
The OFT today welcomed the Government's action plan to reform the way in which property search information is provided. The proposals will increase price transparency and stimulate competition and consumer choice in the market, currently worth £190 million per year.
In a study published in September (see press release 174/05), the OFT found a wide variation in prices charged by local authorities and that some local authorities restricted access to some property information by buyers and their agents. The report called for measures to increase transparency and competition in the market, along with greater liberalisation of the electronic provision of property searches.
Welcoming today's announcement, Daniel Gordon, OFT Director, Market Studies, said:
'The Government's action plan takes on board the OFT's recommendations for liberalising this important market and will set the conditions, ahead of the introduction of the Home Information Pack in 2007, for a dynamic market that serves consumers well in the future.'”
21.09.05 OFT published market study 23.12.05 Government published response
Calendar days = 93
UK Government has 90 calendar days to respond to OFT.
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