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Hips ‘hindering Home Sales’

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HIPS ‘HINDERING HOME SALES’

HOME information packs (Hips) are deterring homeowners from putting their property up for sale, stunting market recovery, estate agents say.

One in 10 agents believe that the number of people selling would double if Hips were taken off the market, according to a survey of members by the National Association of Estate Agents (NAEA).

In April, the average estate agent had 67 properties available to sell, compared with 84 in April 2008 and 100 in December.

Peter Bolton King, chief executive of the National Association of Estate Agents, said: “The housing market has seen a number of positive signs in 2009, particularly an increased demand for property and more sales being completed.

“However, this will be unsustainable without a steady supply of housing. Hips are controversial and in the NAEA’s opinion, relatively useless. That is bad enough, but these figures suggest that professional agents believe that they are actively harming the market.

“The figures are significant because of fears that housing market recovery is being stunted because increased demand for property among buyers is not being matched by a supply of houses for sale.

“The Government should look at scrapping these packs, at the very least until the market has recovered. At that stage they should be reviewed.â€

Hips were introduced to give prospective buyers more information up front about potential purchases.

Since April 6 all residential properties brought to market have been required to have a Hip in place before they can be marketed.

Hmm, so what about lowering the asking price?

Although, forking out a couple of hundred squids just to advertise, err, offload a property is probably not within the budget of most Britons at this point.

Tough.

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HIPS ‘HINDERING HOME SALES’

Hmm, so what about lowering the asking price?

Although, forking out a couple of hundred squids just to advertise, err, offload a property is probably not within the budget of most Britons at this point.

Tough.

I think what he means is, that there would be more speculative sellers looking to sell at peak prices.

Whether a greater number of overpriced houses on the market would be a good thing or not I don't know

tim

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HIPS ‘HINDERING HOME SALES’

Hmm, so what about lowering the asking price?

Although, forking out a couple of hundred squids just to advertise, err, offload a property is probably not within the budget of most Britons at this point.

Tough.

The Hip equivalent in Scotland is certainly reducing the amount of property coming on to the market.

A reduction of supply will not exactly facilitate an HPC will it?

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i read somewhere that the Tories would ban HIP's or something like that and the result is that alot of people are waiting for Labour to call an election. Its understandable as they did something like that before with the house tax thing putting it from 150k to 170k or something, i cant remember, but the point is it caused fesitation, and even thouth the general election is 11 months away (?) people are not sure if there will be one next week at this rate.

Whether that would seriously stop someone, the idea of saving a few hundred pounds on an uncertainty, it all adds up, especially if they think or hope there will be a recovery, makes sense to wait until Labour is out and the Tories scrap HIP's.

I can see alot of people not likeing them because they can, in essense make your house look bad. and thus loose value?..

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The Hip equivalent in Scotland is certainly reducing the amount of property coming on to the market.

A reduction of supply will not exactly facilitate an HPC will it?

It is nice to see that the bears and the EAs can all agree on one thing.

HIPS benefit no one.

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It is nice to see that the bears and the EAs can all agree on one thing.

HIPS benefit no one.

Wrong. Uncertainty and half-baked expectations benefit noone. Whether the subject thereof be HIIPS, stamp duty, or bigger things like interest rates and house prices themselves.

But something that discourages timewasters putting a house on the market with no intention of selling (at any realistic price, or even at all) is a Good Thing.

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Wrong. Uncertainty and half-baked expectations benefit noone. Whether the subject thereof be HIIPS, stamp duty, or bigger things like interest rates and house prices themselves.

But something that discourages timewasters putting a house on the market with no intention of selling (at any realistic price, or even at all) is a Good Thing.

how much does it cost to put a house on the market if you have no intention of selling it?

do EA's do it free based on the % when it sells? or are there get out charges?

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how much does it cost to put a house on the market if you have no intention of selling it?

....

Nothing.

You can also pay for the HIPS when you sell (after 26 years waiting....)

HIPS = scapegoat....

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