Hips Suspension Encourages More People to Enter the Market

25th June 2010

Following the Government’s suspension of Home Information Packs (HIPs), Home Sale Network members cite the suspension as one of the strongest influences in encouraging more people to enter the property market.

The majority (48%) of Network respondents surveyed at the beginning of June indicated the strongest influence in encouraging more people to enter the market was the suspension of HIPs. A further 19% cited low interest rates as the main influencing factor and 19% indicated the summer weather was responsible.

Home Sale Network is a specially selected, national network of independent estate agents able to provide a good indication of the level of impact the suspension of HIPs is having on property transactions.

Michael Arthan from  Barbers, the member of Home Sale Network in Shropshire said, “We believe that the suspension of HIPS is good news for the housing market. Barbers has indeed seen an increase in the number of properties being put on the market since the announcement was made last month. This may have been a result of people holding back, but estate agents have welcomed the suspension of HIPs by the new Government. Of course the Energy Performance Certificate (EPC) still remains mandatory.”

For further information contact any of Barbers offices:

Market Drayton- 01630 653641
Newport- 01952 820239
Shrewsbury- 01743 276200
Wellington/Telford- 01952 221200
Whitchurch- 01948 667272