Government announces homebuying overhaul to fix country’s ‘broken’ housing system

The Government has announced what it’s calling the biggest shakeup to the homebuying system in this country’s history. 

In a bid to ‘rewire a chaotic system which has become a barrier to homeownership for thousands nationwide, the Government has today (Monday 6 October) unveiled proposals that it says will speed up the long-drawn out and costly process of buying a home by four weeks.

The Housing Secretary says this will not only save people money, but unnecessary stress too.

The proposed new plans would see sellers and estate agents required to provide buyers with ‘vital’ information about a property upfront – including the condition of the home, leasehold costs, and chains of people waiting to move.

It’s hoped this will help end any last-minute chain collapses and ultimately give greater confidence to first-time buyers when they’re making one of life’s most important decisions. 

Binding contracts could also be introduced to stop people walking away from agreements after buyers painstakingly spend months in negotiations to hopefully halve the number of failed transactions.

The new reforms are also proposing that prospective buyers are provided with side-by-side information on estate agents and conveyancers, including their track record and expertise, alongside new mandatory qualifications and Code of Practice to drive up standards and work to rebuild trust in the industry.

Prime Minister Keir Starmer took to Twitter this morning to address the proposed new homebuying overhaul, commenting: “I promised that my Government would fix the broken housing system.

“Buying or selling a home will be faster, unlocking the dream of homeownership and allowing hardworking people to focus on the next chapter of their lives. That’s national renewal.”

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I promised that my government would fix the broken housing system.

Buying or selling a home will be faster, unlocking the dream of homeownership and allowing hardworking people to focus on the next chapter of their lives.

That's national renewal.

— Keir Starmer (@Keir_Starmer) October 6, 2025

Housing Secretary, Steve Reed, said buying a home should be ‘a dream, not a nightmare’.

He continued: “Our reforms will fix the broken system so hardworking people can focus on the next chapter of their lives. 

Read more:

• Authorities prepare to ‘turn the tide’ on Greater Manchester’s housing crisis
• Andy Burnham declares 2025 as Manchester’s year for ‘restoring local control’
• First look at major new multi-million pound Rochdale housing scheme with 200+ homes

“Through our Plan for Change, we are putting more money back into working people’s pockets and making a simple dream a simple reality.”

Featured Image – James Feaver (via Unsplash)