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Hips rollout spell advantage for home buyers

There has been a recent increase in the number of houses being put on the market as potential sellers hurried to beat the Home Improvement Packs (Hips) deadline on December 14th, new research has revealed.

The National Association of Estate Agents (NAEA) has shown that the recent government decision stipulating that all one and two bedroom houses had to have Hips, spurred homeowners on so that they would avoid incurring the extra cost.

This has proven to be an attractive market for buyers as the numbers of people on estate agents' books rose to 290 on average in November, which reflected a rise in buyer interest compared to that of October.

NAEA president Stewart Lilly has said: "It now seems that there is some light at the end of the tunnel. While it is likely that prices will remain static in 2008, the potential for further interest rate decreases will fuel consumer optimism and hopefully help to restore confidence in the market."

The news follows previous NAEA concern over the Hips rollout, when it was thought that they would not in fact improve the home buying and selling situation that has been encountered due to the ongoing credit crunch.

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21/12/2007 16:33:58

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