Hips suspension 'has not helped housing market'
The suspension of home information packs (Hips) has not had the desired impact on the housing market, it has been claimed.
While there has been a rise in the number of homes being put up for sale, Firstrung has suggested that the Hips scrappage may not be the reason.
The recent Rightmove House Price Index showed that there has been a 22 per cent increase in sellers coming to the market since the move was taken.
However, Firstrung chief executive officer Paul Holmes explained that the suspension of Hips has had very little effect.
"I think the explosion in new listings was firstly people being concerned about [yesterday's] Budget, and the potential that capital gains tax was going to hit any property profits quite harshly," he said.
Mr Holmes added that the rush may also have been to do with the fact that sellers see this summer as their last opportunity to exit the market with a profit.
The expert noted that the biggest barriers to new buyers remain the lack of available credit and the inability to save up a large enough deposit.
Posted by Paul Steel
Stamp duty could have large impact on housing market
The future of stamp duty could be intertwined with those looking to sell their home, it has been suggested.According to figures from Lloyds Banking Group, changes to the tax could have a major impact on the housing market.Those who...
Brochure
Would you like some more information on our conservatories? Order a copy of our brochure online today or call
Gallery
View either our residential gallery or our commercial gallery or view a number of our conservatory case studies.
