A coalition of Welsh property professionals has launched an initiative to tackle issues plaguing the country's housing market, including transaction fall-throughs and delays. 'Move Wales', formed by independent estate agents, conveyancers, and mortgage brokers, aims to streamline transactions and provide a smoother experience for buyers and sellers.
The group, which includes prominent Cardiff-based firms such as Wrights Estate Agency and Harding Evans Solicitors, has been bolstered by support from industry organisations like FinTech Wales and the Open Property Data Association. The initiative will operate on the Openmoove platform, with further firms expected to join ahead of a deadline later this month.
The move comes independently of recent UK Government reforms aimed at speeding up property purchases. Jack Wright, Director at Wrights Estate Agency, highlighted the significant impact of failed transactions, stating, “Fall-throughs are painful for everyone involved, but it’s home movers who bear the real cost.” Ross McKenzie, Co-Founder of Openmoove, noted that Wales faces similar systemic problems to the rest of the UK, but this group has chosen to actively address them.
The collaboration signifies a cross-sector commitment to resolving inefficiencies. Wyn Williams, Partner at Harding Evans Solicitors, expressed pride in the initiative, stating, “We believe this represents a unique opportunity to improve the experience for everyone involved in a Welsh property transaction.” The aim is to deliver “a calmer, clearer, more connected experience” for those buying and selling homes in Wales.
Recent data from Rightmove indicates that average asking prices in Wales were £254,821 in May, a slight decrease of 0.3% month-on-month but still 1.0% higher than a year ago. Across the UK, the average asking price currently stands at £375,110. Mortgage rates have also remained a significant factor in the market.