Plans to end gazumping with binding agreements in house sales shake-up

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Plans to end gazumping with binding agreements in house sales shake-up 1 day ago Share Save Add as preferred on Google Rachel Clun, Business reporter and Kevin Peachey, Cost of living correspondent Getty Images Home buyers and sellers can expect an end to "gazumping" in a major shake-up aimed at speeding up housing sales. Legally binding sales agreements will be introduced earlier to stop buyers or sellers walking away at a late stage in the process without a legitimate reason. In England and Wales, buyers can currently be outbid at a late stage of the sale and chains can fall apart months into the process, causing huge frustration for buyers as well as being expensive. Previous attempts to improve the system have had limited success and few of the latest proposed changes will happen immediately. The planned reforms, first announced in October last year , will be introduced at the end of this Parliament in 2029. The changes include home buyers receiving more information abou...
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OPEC has revised down its global oil demand forecasts for this year and 2025



Is expected to be 2.11 million barrels per day (bpd) in 2024, and 1.78 million bpd in 2025.

In its latest monthly report, published on Monday, August 12, the Organization of the Petroleum Exporting Countries (OPEC) lowered its global oil demand forecast for the first time in 13 months.

Demand for 2024 is now projected at 2.11 million bpd, compared to the 2.25 million bpd forecast last month. For 2025, OPEC now anticipates demand at 1.78 million bpd, down from the previous projection of 1.85 million bpd.

"This slight revision reflects actual data received for the first quarter of 2024, and in some cases for the second quarter, as well as reduced expectations for China's oil demand growth in 2024," OPEC noted.

"Fuel demand for transportation is expected to remain strong due to the healthy state of road and air mobility," the cartel added.

For 2025, OPEC forecasts demand at 106.11 million bpd, an increase of 1.8 million bpd, which remains almost unchanged from previous projections, driven mainly by non-OECD countries.

The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organization whose member countries, mostly developed, share a market economy system.



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