Wednesday, Jul 12, 2006

Anti-house pack campaign launches

BBC News: Anti-house pack campaign launches

The Daily Mail, Kirsty & Phil and a couple of Tory Boys...

Posted by miniFTSE @ 09:27 AM (548 views)
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1. Surfgatinho said...

"It could cause a 1.5pc contraction of the UK economy, a 25pc fall in house prices and a 35pc drop in commercial property prices over three years"

Little conservative don't you think!

Wednesday, July 12, 2006 09:59AM Report Comment

2. sebastian said...

25pc?!? Really? QUICK! Start a pro-house pack compaign!!!

Wednesday, July 12, 2006 10:46AM Report Comment

3. inbreda said...

If you ask me, the tories can see an HPC on the horizon and have thought it wise to say, before the HPC happens, that HIPs will cause a crash. That way, when the inevitable crash comes they can blame HIPS, and therefore Labour, for everyones woes. Then they can say that they saw it all coming and advised the government against HIPS and aren't we clever and aren't Labour a bunch of idiots.

Well - one out of two isn't bad.

As for Krusty and her hairless monkey - well - their opinion is rarely worthy of credit.

Wednesday, July 12, 2006 01:53PM Report Comment

4. P. Doff said...

A lot of assumptions there inbreda. The simple fact is that Labour think HIPS are a good idea and the Tories (wisely in my opinion) do not. We are therefore bombarded with scaremongering articles from both sides pushing different viewpoints, most of which are not based on sound logic.

If HPC does happen, the Tories may indeed blame Labour (well, they can hardly blame themselves for the current economic mess), but I don't think they will need to point to HIPS as the cause. There are many more significant blunders out there.

I agree with you about Krusty, but unfortunately millions of joe public avidly watch her sort of programme and swallow it whole - hence we are now a nation of would-be property developers and speculators. The VIs know this and Krusty is merely a well known face to be used to push a particular viewpoint.

As far as HIPS go, the simplistic view, is that you get a free survey and energy report and complete your purchase more quickly at reduced cost. Unfortunately, the reality is that todays buyers are tomorrows sellers and the whole house disposal process will become more expensive. The report you get will not be proper survey but a watered down version, possibly undertaken by 'white van man' who has recently managed to get accredited (I met a platerer last week who had just started his training). The HIP does not contain a valuation and lenders will still require the buyer to pay for one. At the moment, less than 10% houses ACTUALLY SOLD in this area attract a proper survey, whereas, after the introduction of HIPS every house PLACED ON THE MARKET will require a home condition report. These will have a limited 'shelf life' and it is quite possible that sellers will have to pay again to have them updated if a quick sale is not achieved.

Expect there to be a dire shortage of accredited Home Inspectors when HIPS are introduced. The number undergoing training at the moment is insufficient to meet anticipated demand, but the number is overestimated anyway. I know several surveyors who have signed up to the course but have recently abandoned the training due to the cost and lack of time. The RICS have already expressed their concerns to the government over this. I therefore anticipate significant problems, or perhaps a postponement of the introduction date.

In summary, a right shambles in the making.

Wednesday, July 12, 2006 03:57PM Report Comment

5. inbreda said...

On the plus side, if it causes a crash then maybe some sanity might return to the market.

You're right that Joe Public listen to Krusty. She is their goddess. So if she is going around saying that HIPS will cause a house price crash - assuming that the political fallout from backtracking from HIPS would be too great for Labour - then she could well have an effect on public opinion. i.e. if she is saying there will be a crash when HIPS is introduced, then when HIPS actually are introduced everyone will expect house prices to fall. I'm sure that some number of idiots are selling on the strenght of this.

there are lots of people who have been saying for a long long time that the HPC will come by the end of the summer 2007. HIPS could well mean that all bets are off.

Thursday, July 13, 2006 12:32PM Report Comment

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