Mandatory home surveys could strain surveying capacity
Original Article Summary
A proposal to make property surveys mandatory before homes are listed for sale could increase demand by 40%, according to analysis from property inspection software firm Property Inspect. The company's research indicates that currently 58% of buyers commission a survey before completion. The post Mandatory home surveys could strain surveying capacity appeared first on PropertyWire.
PropMatch Curated Analysis
Proposed mandatory property surveys could increase survey demand by 40%, creating significant capacity constraints in the surveying profession and potentially affecting transaction timelines and costs.
Investor Relevance
This proposal could materially impact property investment processes by potentially increasing acquisition costs, extending transaction timelines due to surveyor capacity constraints, and changing due diligence workflows. Investors need to understand how mandatory surveys might affect their deal structures and timescales.
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