Government looking to speed up house buying process

My source is the Independent.

The ministers plan to launch a probe into unscrupulous home-buying practices where people who have already put down an offer on a property can be out bid by rival buyers.

Communities secretary Sajid Javid has asked for views on this custom, known as gazumping, as a way of making house buying and selling cheaper, faster and less stressful.

This consultation will also consider the boosting of confidence within the housing chain through "lock in agreements" to prevent purchases falling through, as official figures show a quarter of sales collapse each year.

Buying a home is on of life's largest investments therefore if it goes wrong it can be costly and stressful, that's why they are determined to make it as stress free, faster and cheaper as possible.

I believe that this would be a great idea for the economy and for persons in one sense but in another sense, if prices for houses are too cheap there can be a loss of economies of scale and if rivals can out bid each other that can also put a lot of persons off from wanting to buy a house.