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HiP Suspension Leads to Increase in Property Listings
According to Rightmove the suspension of Home Information Packs has resulted in a 35% increase in the number of properties on the market. This level of increase has not been since September 2007.
New listings are up across the whole of the country, with the highest increase (60%) being seen in Wales.
Commercial Director of Rightmove, Miles Shipside commented: “35% is a significant increase in new listings and indicates that many more speculative sellers have been encouraged to bring their properties to market since HiPs were scrapped. It seems that the additional cost and red tape were putting sellers off.”
