Things need to be tightened up in the housing market, if house price rises are not to adversely affect the UK recovery.
A valuation hallmark requirement must be applied to agents valuing houses for sale in the UK, as part of the macro-prudential regulations about to be considered in the financial sector.
It would serve to bring reality to asking prices which, at present, bear little, if any, resemblance to current open market valuations.
If this is not done, booms in house prices followed by more slumps, will continue to run out of sync with the main economy and cause incalculable damage to it.
The fear, that fluctuations in market pricing causes, also has the effect of paralysing the market; stopping large numbers of home-owners from deciding to try and move at all.
For more information on this please see:
http://www.property-match.co.uk/blog/2010/06/14/estate-agents/up-coming-decisions-needed-to-be-taken-by-the-housing-minister/
Posted by: Property Match (UK): The modern way to market houses
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