Property Agents: Regulation

Lord Best Excerpts

Thursday 18th April 2024 Lords Chamber

[Baroness Swinburne (Con)]

I appreciate the time delay and am exceedingly grateful to the noble Lord, Lord Best, for the report from him and his working group, which included more than 50 recommendations cutting across different housing tenures. We are developing key primary legislation to address the fundamental power imbalance that exists in parts of the housing market. Through the Renters (Reform) Bill and the Leasehold and Freehold Reform Bill, we are taking forward specific recommendations from the noble Lord’s report, and we will keep the question of further regulation for the sector under review.

[Lord Best (CB)]

My Lords, did the Minister see the excellent report from your Lordships’ Industry and Regulators Select Committee, which thoroughly endorsed the need for a regulator? It took evidence both from those representing the consumers—that is, tenants, leaseholders and people buying and selling properties—and from those who would be regulated, the agents themselves, who felt at least as passionately about the need for a regulator. If we cannot have a fully-fledged regulator because time does not allow, could we at least go half way and introduce some mandatory training and qualifications so that the people handling property agency work know what they are talking about and we weed out some of the rogues?

[Baroness Swinburne (Con)]

I thank the noble Lord for his comments and for his work, which I have acknowledged. I am grateful also to noble Lords on the committee for their recent work on this important topic. Ministers are considering its recommendations and will respond in due course. Training programmes are currently available, and. I suspect that this question will come up time and again. In respect of the legislation that we are currently talking about, I have no doubt that I will be having those conversations with the Minister, my noble friend Lady Scott, in the coming days and weeks.