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Minesapint

Hips - Just An Excuse?

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Whenever you see a mainstream bearish report you can almost guarantee that slowdown/fall in properties coming to the market is blamed on HIPS. Price falls blamed on HIPS etc etc etc.

How can this be, I know of a couple of local estate agents that are offering free HIPS and the Halifax is offering deferred HIPS - pay when you sell.

Why would this stop people marketing there properties? Answer it won't. It won't stop buyers coing to the market either.

CONLCUSION

Buyers aren't buying because they know a fall is coming. Sellers not selling because they refuse to admit there property isn't really worth what the EA told them anymore.

discuss

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What I don't get is why people will think that HIPs will cause a slump. If HIPs put people off selling there'll be less property on the market. Less supply usually = Higher prices, but every time I read something about HIPs the author implies that, in the case of HIPs, less supply will = lower prices. It doesn't make sense.

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I totally agree..all this bulls**t about the cost of HIPS..what is it between £500-700?

First..most EAs around here offer it for free and second.a small amount like this when we talk a couple of £100.000 when people buy or sell makes no difference.

The difference is that people don't test the market anymore and that makes a difference in the numbers of properties coming on to the market...me thinks.

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Whenever you see a mainstream bearish report you can almost guarantee that slowdown/fall in properties coming to the market is blamed on HIPS. Price falls blamed on HIPS etc etc etc.

ROFL!

This a.m the Beeb used the fall in instruction volume to bull-spin the RICS bear news. Apparently, although we've seen falling prices, it don't impress the beeb much cos the volume isn't sufficient to cause a crash.

BUT RICS have previosuly blamed the fall in instructions on - you guessed it - HIPS ( there are fewer "kite flyers" in the "market") . But don't mention that inconvenient fact when you are trying to excuse the fall in prices.

So we can :

1 ) IGNORE falling prices because HIPS is a one-off event;

2 ) take falling volumes SERIOUSLY despite the fact that it is likely caused by HIPS - a one-off event.

:blink:

:lol:

Ain't no data that can't be spun the way you want it.

Edited by Sledgehead

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