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Government to outlaw POA housing claims

Government to outlaw POA housing claims 2

Estate agents will be banned from using ‘price on application’ on property listings as watchdogs say the ploy is misleading for buyers

  •  The government is threatening estate agents over their POA description
  • It is feared the ploy is used to keep neighbours in the dark about their dealings
  • The National Trading Standards believe people could waste their budget  

The abbreviation POA – price on application – often used by estate agents to generate intrigue and tempt home buyers is to be outlawed.

Watchdogs say the ploy, sometimes demanded by sellers who prefer to keep neighbours and others in the dark about how much they want, is misleading.

National Trading Standards (NTS) believes buyers can end up wasting time and money pursuing an interest in a property beyond their budget.

The abbreviation POA ¿ price on application ¿ often used by estate agents to generate intrigue and tempt home buyers is to be outlawed

The abbreviation POA – price on application – often used by estate agents to generate intrigue and tempt home buyers is to be outlawed

An NTS working group has set out new guidelines to outlaw use of the tactic by estate agents, including on sales websites such as Zoopla and Rightmove

An NTS working group has set out new guidelines to outlaw use of the tactic by estate agents, including on sales websites such as Zoopla and Rightmove

‘The property’s price is information which the average consumer needs to make an informed transactional decision, such as to make inquiries about the property, conduct further research or arrange a viewing,’ the watchdog said.

An NTS working group has set out new guidelines to outlaw use of the tactic by estate agents, including on sales websites such as Zoopla and Rightmove.

n The average house price rose by more than £3,000 last month to hit a record high of £286,079, according to Halifax.

It is the tenth consecutive month that prices have risen – up by £47,568 from two years ago – as the property market continued its longest run since 2016.

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