The Council of Property Search Organisations welcomes today's publication of the Office of Fair Trading's report on the property search market.
CoPSO supports the OFT's recommendations aimed at improving competition and access to property information, in advance of the Government's home buying reforms due in 2007. At present, certain local authorities consistently fail to provide reasonable access to search information, leading to unnecessary delays in conveyancing transactions. The OFT's recommendations will address this position by requiring local authorities to provide swift access to their information, to review the way in which they set their fees and to allow electronic access to search data.
Commenting on the report, CoPSO Chairman Fiona Hoyle said:
"The OFT's recommendations are very welcome as they will create a more competitive search market in advance of the introduction of HIPs in 2007 and will ensure that homebuyers receive information which is both comprehensive and value for money".