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Rightmove Say They Have Orders For 400,000 H I P S

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http://business.timesonline.co.uk/article/...2258580,00.html

Times Online July 06, 2006

Rightmove predicts booming profits

In the six months to June 30, the number of estate agent branches advertising rose 21 per cent to 10,360, new home developers customers jumped 53 per cent to 2,367, those advertising lettings climbed 59 percent to 1,523 and overseas customers were up 6 per cent to 430.
The group said its home information pack project is on track, within budget and
has sales commitments for more than 400,000 packs
.

Buried deep in the article but what does it say about the number of serious sellers about to come onto the market? There are a LOT of them. 400,000 is huge.

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http://business.timesonline.co.uk/article/...2258580,00.html

Times Online July 06, 2006

Rightmove predicts booming profits

In the six months to June 30, the number of estate agent branches advertising rose 21 per cent to 10,360, new home developers customers jumped 53 per cent to 2,367, those advertising lettings climbed 59 percent to 1,523 and overseas customers were up 6 per cent to 430.
The group said its home information pack project is on track, within budget and
has sales commitments for more than 400,000 packs
.

Buried deep in the article but what does it say about the number of serious sellers about to come onto the market? There are a LOT of them. 400,000 is huge.

Could be 200'000 more if those caught by this new Social Housing (read "steal you house) order come into affect.

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When do HIPS go into affect? Surely someone wanted to sell they'd sell now without the need for a HIP?

I'm confused!!

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Will HIPS info be collated? If it is, there may be a better way - than trusting EAs - to assess the value of a property. At the moment, EAs can inflate prices through their valuations - sellers often choose whichever one promises the most. If HIPS info is analysed an put online, over-selling EAs will be easier to spot, and this source of inflationary pressure neutralised.

Or is this wishful thinking? :unsure:

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Does anyone have some data we can compare this 400000 figure to?

It sounds huge, but it would be nice to have a yardstick. Rightmove currently claim to have 570000 UK properties for sale.

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I think it is reasonable to suggest that there is huge pent-up demand for EAs to market houses. Now that the Cup is over the sellers will be thinking people will be focusing on getting on the ladder or moving up from their 250k semi to a 450k detached etc. Seems that many will time the wanna-be sale soon in time for September school starts.

Not sure how this ties into Hips.

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On the face of it, it sounds odd. Why would estate agents (who are RightMove's customers) be pre-ordering HIPs? Why would you pre-order a HIP if you haven't even got the property to sell yet and you're still nearly 11 months away from them being required?

Unless, Rightmove are saying to their estate agent customers ... 'there is going to be a big shortage of surveyors .... we are putting the infrastructure in place ... to make sure you get the HIPs you will need, you have to pre-order now'

In which case, presumably all estate agents would do is say to themselves 'okay, I sell 10 properties a month on average, I'll pre-order 10 HIPs a month.'

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On the face of it, it sounds odd. Why would estate agents (who are RightMove's customers) be pre-ordering HIPs? Why would you pre-order a HIP if you haven't even got the property to sell yet and you're still nearly 11 months away from them being required?

Unless, Rightmove are saying to their estate agent customers ... 'there is going to be a big shortage of surveyors .... we are putting the infrastructure in place ... to make sure you get the HIPs you will need, you have to pre-order now'

In which case, presumably all estate agents would do is say to themselves 'okay, I sell 10 properties a month on average, I'll pre-order 10 HIPs a month.'

What do you mean unless. There will be a pre-order discount sold by fear of that shortage.

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Will HIPS info be collated? If it is, there may be a better way - than trusting EAs - to assess the value of a property. At the moment, EAs can inflate prices through their valuations - sellers often choose whichever one promises the most. If HIPS info is analysed an put online, over-selling EAs will be easier to spot, and this source of inflationary pressure neutralised.

Or is this wishful thinking? :unsure:

Are you under the impression that a HIP will contain a valuation of the property? It won't.

That is part of the objection. Seller will pay for a HIP containing (amongst other things) a Home Condition Report done by a Home Condition Inspector (Blakey I believe most of them will be called) - and the buyer will still have to pay for a valuation done by the lender's surveyor.

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Are you under the impression that a HIP will contain a valuation of the property?

That is part of the objection. Seller will pay for a HIP containing (amongst other things) a Home Condition Report done by a Home Condition Inspector (Blakey I believe most of them will be called) - and the buyer will still have to pay for a valuation done by the lender's surveyor.

No, but if the HIPs set out what the property contains - floor space, number of rooms etc, then it should be possible for someone else to work out going rates - it could be done online, just like the land regstry. This may help buyers assess value, and stop inflationary valuations.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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