CML: How disruptive will HIPs be? We see a combined effect of sellers listing before 1 June 2007 to avoid the cost of a HIP and buyers, particularly first-time buyers, waiting until after 1 June 2007 to benefit from the greater certainty and lower transaction costs associated with buying a property with a HIP. This is likely to lead to an oversupply of properties in the first half of 2007, and a rapid unwinding of that position after HIPs come in.
