24th May 2010

HIPs: The end of the road?

Now that the new Coalition Government has settled in, I was interested to note that one of the first steps that has been proposed is to repeal the Home Information Packs.  The details are still a bit unclear and it may be that the HIP is being repealed down south with the Energy Performance Certificate being retained.  This proposal is a welcome step and this shows that the Government can change policy and we have to hope that the Scottish Government sees sense and takes steps to repeal the Scottish version.

As a market overview, there has been a recent article in the Daily Express indicating big rises in house prices.  Whilst there is definitely an increase in activity, the numbers of properties changing hands are still well below 2007 levels meaning that there is huge scope for distortion of the figures.  My feeling is that the housing market is moving along the road to recovery and that the fundamentals for the UK house market are still good, that is, stable property market, increasing demands and lack of supply.  Although there is still a problem with bank lending especially to first time buyers.  The housing market still requires to be encouraged by the UK and Scottish Governments and it would be a big benefit if the Sellers’ Survey was abolished in Scotland.

 

 

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