HIPs abo­li­tion has im­pact on sup­ply

Yorkshire Post - Property - - PROPERTY -

The RICS (Royal In­sti­tu­tion of Char­tered Sur­vey­ors) say there has been an in­crease in the num­ber of homes for sale driven by the abo­li­tion of Home In­for­ma­tion Packs.

They say this boost in sup­ply and a drop in in­ter­est from new buy­ers is push­ing house prices down. Res­i­den­tial spokesper­son for RICS York­shire and Hum­ber Bruce Pax­ton, of Adair Pax­ton in Leeds, says: “With the elec­tion, then the World Cup, a mi­nor heat wave and the hol­i­day sea­son, we’ve seen a tur­bu­lent hous­ing mar­ket these last few months. We’ve also seen a short­age in cer­tain price sec­tors but stock lev­els have in­creased fol­low­ing the with­drawal of HIPs.”

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