Eric Walker is Managing Director of Northwood UK and tweets at @justericwalker
We in the property industry have more common ground with the likes of Generation Rent and Shelter than many would think. Professional agents do an immense job and provide a valuable service to help protect consumers from the small minority of rogue agents. MPs call for regulation every day, yet the only group which can change the law is in fact the politicians who refuse to do so.
This Government wants agents to regulate themselves. Their reason is in no small part due to the horrors which would be uncovered if agents were forced to regulate. Clients' money should be held in a ‘ring-fenced’ client account, but while this may protect money from creditors, it is not ring-fenced from the agent. If their business is struggling, there is little point in seeking bank assistance and as such, clients' money is a very tempting resource.
The coalition always seem very keen to look at what’s happening in Sweden and see what we could all learn from how they operate. Free schools, equality and healthcare are all models that have been viewed by jealous eyes in Westminster of how to do the right thing affordably. David Cameron himself is a close friend of the Swedish prime minister Fredrik Reinfeldt.
The one model that has never been mentioned in the UK politics debate is the Swedish housing model.
I have lived here in Sweden for three years now and I have discussed housing & renting with many Swedes whose eyebrows rise when I explain to them how the UK private rental sector works and the sums of cash involved.
I also have experienced first hand how housing works here and there are some startling rules that govern both buying and renting homes, I’m not certain if it’s a deliberate ploy to keep prices in check or simply just the “Swedish” way.Read more