15
Jun
Abolition of Hips 'could boost summer property sales'
House prices could continue to increase over the summer with the
abolition of home information packs (Hips), it has been suggested.
Spokesperson for the Royal Institution of Chartered Surveyors
(Rics) Ian Perry commented on the impact of the government's
announcement to get rid of the packs, suggesting that it had pushed
more supply into the market.
He said: "Surveyors are generally confident that sales will
continue to pick up over the summer months. The increase in supply
as a result of the abolition of Hips is helping to support this optimism."
Last month, the government announced the elimination of the packs
to help reduce the cost of selling a home and encourage activity in
the property market.
A recent survey published by Rics revealed that 22 per cent more
chartered surveyors had reported a rise than a drop in house prices
this month, up from 19 per cent in April.
Of those surveyed, sales expectations rose from 27 per cent to 31
per cent, indicating a positive outlook on the following months for
estate agents.