After the unprecedented build-up to the Autumn Budget, it was notably quiet on property transaction reform. Speculation around Stamp Duty changes and first time buyer incentives came to nothing, while the headline housing measure – the new High Value Council Tax Surcharge on homes worth over £2m – will not take effect until April 2028.

That leaves the market facing the same practical problem it has lived with for years: a slow, uncertain homebuying process in which the risk of fall throughs remains stubbornly high.

PNPR has authored LRG’s latest Sales Report, The Homebuyer Reboot, exploring why transactions collapse, what that failure really costs and what reforms buyers and sellers would actually support. The report is based on a survey of 221 buyers and sellers across England and Wales, alongside a follow-up survey of 95 respondents conducted immediately after the Budget announcement.

As ever, the findings make for interesting reading. Nearly half of respondents (45%) have experienced a transaction collapsing after an offer was accepted, with 34% of failures coming down to someone simply changing their mind. And the financial impact is far from marginal: half of respondents lost £500 or more, with a third of those affected losing more than £1,000 – before you factor in wasted time and the emotional toll.

Against that backdrop, it is not surprising that appetite for reform is high. The report finds 80% support for making offers legally binding at an earlier stage and 90% of sellers willing to pay around £300 for comprehensive upfront information if it delivers a faster, more secure process – albeit with clear caution around implementation and proof of benefit.

LRG has lots to say on this topic too – and that’s all on the LRG website.