Part of the debate – in the House of Commons at 3:34 pm on 8 January 2001.
Obviously the hon. Gentleman has not read the Countrywide survey. Although it anticipates a 13 per cent. reduction in the number of properties put on the market as a result of the introduction of the requirement, it goes on to say that currently, 15 per cent. of properties put on the market are eventually withdrawn. The conclusion, which is perfectly sensible to anyone who can read the figures, is that, broadly, there will be no change.
The evidence from Denmark, where a similar scheme has been in force for a couple of years, is that there has been no adverse effect on the market. Equally, in New South Wales, where seller's packs were first introduced, there was no adverse effect on the market. On the contrary, the market is working more efficiently, so the evidence is very much in favour of the seller's pack.