Scrapping Hips 'has led to more houses on the market'

Posted: 15 Jun 2010 11:41:31 GMT

The amount of properties on the market has increased since the government scrapped home information packs (Hips), new figures show.

Findings from the Royal Institution of Chartered Surveyors UK Housing Market survey revealed 21 per cent of surveyors reported an increase in new instructions, compared to 11 per cent the previous month, with the scrapping of Hips being the main reason.

Ian Perry, spokesman for the company, said: "Surveyors are generally confident that sales will continue to pick up over the summer months."

He believes the optimism is a result of the increase in stock on the market seen over the last month.

The report found house prices also went up in May, as 22 per cent more surveyors reported a rise rather than a fall, compared to 19 per cent in April.

Nationwide recorded a 0.5 per cent increase in prices last month, but Halifax results indicated a drop of 0.4 per cent.


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