Estate agents ruining housing market

King_Of_Fools

benood wrote: »

Sorry if I've got the wrong end of the stick but HIPS are becoming compulsory on 1 June I think, in which case by my reasoning quite a few of the properties on the market now will be withdrawn as the owners (timewasters?) decide they don't want to pay for a pack, this might reduce housing supply and cause prices to rise, all other things being equal.

Conclusion: if you wait a few months you might be scratching around for property to buy rather than being spoilt for choice.

From June new house listings have to have a HIP by law. Any house that was advertised before June can stay on the market until the end of the year before it needs to get a HIP.

courtjester

Properties already on the market at 1 June will NOT need a HIP for 6 months, so there is no time-bar that will cause property to be withdrawn. The converse is likely, that the deadline will bring more property to the market before the end of May and this will be offset by a slump in new property during June. After July, the market is most likely to settle back into normal subject to the fact that 'kite-flying' will not be an option as people will have to pay to have their homes on the market, so only serious sellers need apply.

CB1979_2

but you didn't mind when the EA got you "a great price the end of last year"

not being arsey but can't have it both ways I'm afraid.

MJMum

---