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 Sir Bryan Carsberg has warned in a new report released today (June 16th) that the residential property market in England and Wales is in dire need of a radical overhaul.
The review was commissioned last July - when the housing market was considerably stronger than it is now - to explore the workings of the sector in detail.
And the findings of Sir Bryan, who is the former director general of Oftel and the Office of Fair Trading (OFT), make for fairly grim reading in another blow to the troubled market.
The document reports that there is a "lack of clear, consistent understanding" from consumers, while it also expresses concerns about the "patchy, badly understood and, in parts, unnecessary burden of red tape for those offering property services".
Responding to the review, Rics director of external affairs Gillian Charlesworth commented: "Sir Bryan's review highlights a number of key areas where the current approach is clearly failing.
"The processes for regulation and redress do not go far enough to protect the consumer and we agree that participation in regulatory and redress schemes needs to be both consistent and universal."
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