HIPS Continuing to Adversely Affect Housing Market
The number of properties requiring a Home Information Pack (HIP) coming onto the market in September has continued to fall across England and Wales compared with the same month in 2006, according to a new survey bythe Royal Insitiute of Chartered Surveyors (RICS).73% of respondents indicated a decrease in three bedroom or larger properties coming onto the market, with new instructions falling by 37%.
RICS spokesperson Jeremy Leaf said: "Although they are not the only factor, HIPs are continuing to have a detrimental impact on the housing market, in spite of assurances from the Housing Minister that this would not happen. "With fewer family properties available for sale in September, those buyers looking to upgrade to larger properties are finding it increasingly difficult to choose from declining supply."
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