UK: CALL FOR NEW LAWS TO STOP GAZUMPING
Article Abstract:
Ministers are urging the UK government to introduce new legislation to prohibit 'gazumping and gazundering' in the property market. The Property Transaction Bill would make the acceptance of an offer on a property a legally binding deal, putting an end to the raising or lowering of a price by the vendor prior to the signing of a contract. Meanwhile, the Government is continuing to examine ways of reducing the length of time it takes to buy houses, in an attempt to reduce gazumping opportunities. A pilot study is currently underway in Bristol to test a 'seller's pack', which contains a surveyors' report, copies of warranties and information from a council search.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: FEAR OVER HOUSE BUILDING ON FLOOD PLAINS
Article Abstract:
Because flooding will become increasingly frequent during this century as the result of climate change, the UK government should look to place limits on the construction of houses on flood plains, an Environment Select Committee report believes. Moves to lessen the pace of agricultural and building projects on flood plains are required to ensure that the impact of autumn 2000 problems when over 6,500 houses were flooded does not reoccur, says the all-party committee of MPs. In the UK, 1.85mn homes and about 5mn people are at risk from flooding.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: HOUSE PRICES DROP AS SALES SLOW
Article Abstract:
House prices fell in July for the first month since 1998, according to the Royal Institution of Chartered Surveyors. It indicated that the number of transactions dropped to its lowest level for four years. The fall in prices was just 2% but the fall in market activity between June and July was 20% sharper than a year ago. The South saw the deepest gloom while surveyors in Yorkshire, Wales and the Northeast were optimistic. Vendors are reducing prices to stimulate interest.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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