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Homeowners looking to sell their properties are flooding the market following the government's decision to abolish Home Information Packs (HIPS). Since David Cameron's government decided that HIPs were becoming an unnecessary, time consuming and costly practice on May 21st, there has been a 21% boost to the number of homes put up for sale in just over one month, according to the Agency Express Property Activity Index. Agency Express, Britain 's largest supplier of ‘For Sale' signs, claims that all regions of England and Wales are witnessing a marked increase in available properties, with the biggest rise recorded in the West Midlands at 42.2%. Greater London was the second most active market at 34.4%, while the South West, North East and Central England also displayed healthy figures. Those cities enjoying the biggest surges in homeowners willing to offload their properties included Southampton, up 103.5%, Coventry , up 77.6%, and Colchester , up 56.1%. “The Property Activity Index data confirms what we all suspected – that HIPs were an unnecessary and inhibitive addition to the house sales process,” commented Stephen Watson, Agency Express Managing Director. “Their removal has immediately injected a welcome surge in properties coming to market that will provide more choice for prospective buyers, help to stabilise prices and reduce the costs of selling your home.” Mr Cameron's decision to abandon the universally loathed HIPs, which cost sellers between £200 and £400 to create, appears justified as the Scottish market, which still endorses HIPs, has undergone an 8% drop in homes put up for sale. If like many homeowners across the country you are hoping to sell your home, speaking with your local solicitor can guarantee that such a hefty transaction runs smoothly.
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