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Home Packs 'led To Selling Rush'

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The best quote I can find on this can be found in the Times:

'The number of new properties coming onto on the market increased at the FASTEST PACE IN THE SURVEY'S HISTORY!!' :o

Source: http://property.timesonline.co.uk/tol/life...icle1929247.ece

The "Brown stuff" has finally hit the wall....

Edited by studdymx

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Is that a surprise ? Who would pay more to sell than they have to ?

Especially as we were not sure if HIPS would a) work B) benefit anyone.

"Although one of the dozens put up for sale now actually says "SALE AGREED" on it!"

That many - estate agents are bone idle and often can't bother to do that.

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Ironically, instead of just getting on with HIPs and making people rush to sell once, this is actually going to happen multiple times now as they phase it in across housing bands!

Talk about self inflicted chaos. Maybe New Labour do want a fall in house prices after all? I mean they can't be so blind as to not have seen what would happen. Or, maybe this is a sign that if you keep shuffling inexperienced ministers around into jobs they have no idea about you end up with one big mess.

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IMHO, HIPS are just going to be scapegoat for a housing crash.

No one I know who is trying to sell have said: "I'm selling now to avoid paying for a HIP" :ph34r:

Edited by studdymx

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It seemed to coincide around here with a "non-buying" rush. Although one of the dozens put up for sale now actually says "SALE AGREED" on it!

I agree HIPs was not the only thing that started the increase the number of boards put up, Falling prices,high interest rates ,void periods in the BTLers rental because of saturation in this part of market were also factors which started the rush and in my neck of the woods the rush is still ongoing even though HIPs has been delayed.

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The article claims that it was people avoiding the cost of HIPS that caused the glut of houses for sale. I really am surprised. I think it would be people scared that there would be a shortage of Energy rating officers or whatever they are called, leading to a long delay in selling. That's what would have worried me if I'd been contemplating selling, not the money.

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Is that a surprise ? Who would pay more to sell than they have to ?

Especially as we were not sure if HIPS would a) work B) benefit anyone.

"Although one of the dozens put up for sale now actually says "SALE AGREED" on it!"

That many - estate agents are bone idle and often can't bother to do that.

Well it just shows the gap between paper wealth and real wealth. Presumably if they sold a month or 2 months later that would be about a £1000 to £2000 increase on the average house so the question is if house price inflation is really running at 10% plus why not wait??

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IMHO, HIPS are just going to be scapegoat for a housing crash.

No one I know who is trying to sell have said: "I'm selling now to avoid paying for a HIP" :ph34r:

I have! Even from a lady about to sell her house for £1m!!! Who'd have thought £500 would make the blindest bit of difference...!?!

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I have been monitoring rightmove for several London postcodes and there is an increase in supply by that measure.

However, most of the increase has been in the past 3 weeks, nothing to do with HIPs.

If it keeps growing, the crash is here.

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I have! Even from a lady about to sell her house for £1m!!! Who'd have thought £500 would make the blindest bit of difference...!?!

My apologies... I can't believe for 1 second the primary reason she is putting a £1 million house up for sale now - which has probably tripled in value over the last 10 years, is to avoid paying £500 for a HIP*.

IMHO, sentiment has changed.

Edited by studdymx

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My apologies... I can't believe for 1 second the primary reason she is putting a £1 million house up for sale now - which has probably tripled in value over the last 10 years, is to avoid paying £500 for a HIP*.

my thoughts entirely!!

But there are some strange people out there....

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However, most of the increase has been in the past 3 weeks, nothing to do with HIPs.

If it keeps growing, the crash is here.

I completely agree with you..........

HIP have NOTHING to do with prices reducing. 500 quid when your making bucket loads of profit it..

Its like the selling your car with a full AA inspection, The buyer knows that what he is buying conforms to a standard.

The buyer finnacer pays all in the end.............

Its just like the BoIIocks I here when financial people say FTBs are being squeezed out by interest rates hikes……..

Rate hikes lower HPI,,, So house prices become realistic

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1) It is not just the cost it the uncertainity about whether it will work or not

2) If you were thinking about moving up the ladder why not put the house on the market a few weeks earlier to save £500 ?

I thought that they were coming in last year and I put my house in the market in may 2006 to avoid it.

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