Sunday, November 20, 2005

Home Information Packs 'to cause spike in property supply' - opportunity for investors

Assetz News - Packs 'to cause spike in property supply'
18th November 2005

The government's decision to bring forward the release of its heralded Home Information Packs could cause a huge disruption in the market during the industry's busiest period next year, according to the Council of Mortgage Lenders (CML).

Lenders had advised that the introduction of the packs be delayed until later next year. But the government yesterday announced that they will become mandatory for the housing market from June 1st, sparking fears that the market would be swamped with properties for sale before the change takes place, which could force house prices down further."

In an earlier post I commented how HIP's could provide an opportunity for property investors to negotiate good deals. But the pre-introduction period, if it does lead to additional houses being put on the market early to avoid the charges, could be another opportunity for canny buyers.

Chris Bell

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