Suspension of Hips 'may not affect flats to rent in London'
The new coalition government's decision to suspend home information packs (Hips) is not having any effect on the UK housing market, it has been claimed.
In the opinion of Paul Holmes, chief executive officer of Firstrung, it is worry about yesterday's (June 21st) Budget that is likely to have caused the "explosion" in new listings.
He also thinks many sellers believe this summer will be their last chance to gain a profit from their properties if they are looking to leave the housing market.
Instead, Mr Holmes thinks the industry will not begin to recover until prices are more realistic and credit becomes easily available.
"People are just prepared to have a 'for sale' sign board outside of their house and not budge upon price for years upon years," he added.
In comparison, the Rightmove House Price Index suggested there has been a 22 per cent increase in the number of sellers entering the market since Hips were introduced.
People concerned about Hips and the state of the housing market may be encouraged to look at flats to rent in the London borough of Hammersmith instead.
By Charles Mackay
Published 23rd June, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Southwark to get Dickens statue
People in flats to rent in Southwark may be pleased to learn that the local council plans to install a commemorative statue installed between Blackfriars Road and Union Street to celebrate the English novelist Charles Dickens' 200th birthday.
Read Article ... Published on 9th February, 2012
Bexley highlights progress on local Olympic planning
People occupying flats to rent in Bexley have been assured that the local council is making good progress in getting ready for the forthcoming 2012 Olympic Games in London.
Read Article ... Published on 8th February, 2012
Colindale's Grahame Park area in line for regeneration funding
New flats to rent in Colindale could be created if Barnet Council succeeds in efforts to obtain new funding for the regeneration of Grahame Park.
Read Article ... Published on 8th February, 2012
Council announces new parking plans for Fulham
People seeking flats to rent in Fulham will be able to benefit from expanded parking facilities thanks to a new package of measures from the local authority.
Read Article ... Published on 7th February, 2012
Bromley Council approves funding for Biggin Hill Heritage Centre
People occupying flats to rent in Bromley will welcome news that £64,000 has been allocated for the development of the new Biggin Hill Heritage Centre.
Read Article ... Published on 7th February, 2012
Harrow unveils new budget plans to modernise local services
Those occupying flats to rent in Harrow have been promised that local services will be protected or improved under new plans from the regional council.
Read Article ... Published on 6th February, 2012
Borehamwood park to compete for Green Flag Award
People living in flats to rent in Borehamwood will see their local Aberford Park compete for a Green Flag Award once again this summer.
Read Article ... Published on 6th February, 2012
Plans for new Highbury Roundhouse developments outlined
People in flats to rent in Highbury have seen plans to redevelop the current site of the Highbury Roundhouse community centre take another step forward.
Read Article ... Published on 3rd February, 2012
Improvement programme to be launched for Ruislip Manor shops
Those occupying flats to rent in Ruislip are set to benefit from a new scheme that will improve the look of shops in the Ruislip Manor area.
Read Article ... Published on 3rd February, 2012
South Kensington's revamped Exhibition Road officially opens
Demand for flats to rent in South Kensington could be set to rise following the official opening of the revamped and redeveloped Exhibition Road area.
Read Article ... Published on 2nd February, 2012
One expert believes the suspension of Hips will not affect the UK housing market, which may encourage more people to consider flats to rent in the London borough of Hammersmith.