More houses for sale as HIPs axed

Kentish Gazette Canterbury & District - East Kent Property - - Front Page -

Scrap­ping con­tro­ver­sial Home In­for­ma­tion Packs has given a boost to the sup­ply of houses for sale in Kent and Med­way. That’s the ver­dict of the Royal In­sti­tu­tion of Char­tered Sur­vey­ors in its lat­est UK hous­ing mar­ket sur­vey. HIPs for ev­ery home on the mar­ket were made com­pul­sory by the pre­vi­ous govern­ment, but were axed by the new coali­tion. Crit­ics al­ways claimed they de­terred own­ers from putting their homes on the mar­ket spec­u­la­tively. Oth­ers said they were a waste of time and money. Now sur­vey­ors re­port the de­ci­sion to abol­ish HIPs has pushed up sup­ply in the county, with most re­port­ing a rise in new in­struc­tions, a trend they ex­pect to con­tinue “in the near term”. More than 70 per cent of sur­vey­ors na­tion­ally ex­pect the de­ci­sion on HIPs to lead to higher lev­els of new in­struc­tions with the in­crease in sup­ply an­tic­i­pated to be about 15 per cent. De­spite fear of cuts, many sur­vey­ors in Kent are con­sid­er­ably more op­ti­mistic than last month. RICS South East di­rec­tor Amanda Gar­diner said: “Sur­vey­ors are con­fi­dent sales will con­tinue to pick up over the sum­mer months. The in­crease in sup­ply as a re­sult of the abo­li­tion of HIPs is help­ing to sup­port this op­ti­mism.” A ma­jor­ity of RICS mem­bers in Kent also re­port house prices in the re­gion have risen, un­like other ar­eas of the coun­try.

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