TRANSPARENCY IN THE HOUSING MARKET

Transparency-in-Housing by Andrew CharalambousProperty investment leads to more housing. More buy to let properties means more choice for tenants.But nobody should be discriminated against in this process. Currently, the property market works advantageously for buy to let investors who have access to connections and properties prior to them being properly exposed to the market. Estate agents prefer to deal with buy to let investors who may be cash buyers. Consequently, ordinary members of the public do not even become conscious of the majority of affordable properties out there.

The solution is that every property for sale ought by legal obligation be entered on an online national register. Giving transparency and clarity. Helping first time buyers and every day property seekers to better navigate the market.

In my opinion, to solve the current housing shortage we need not only more government activity but mammoth institutional investment from traditional City institutions such as pension funds. By making the house sales market more visible we are removing a long standing barrier to much needed financial resources. Transparency will make big institutional investors more inclined to pump huge resources through a variety of financial instruments into providing more affordable housing.

We must stop London and other parts of the country becoming the preserve of the rich and privileged. This can only be done through a radical expansion of affordable housing both for those who choose to purchase or rent. And we will never make this breakthrough until we lift the smoke and mirrors and ensure we have a level playing field of information of available homes for sale at any one time.

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