Shapps Welcomes Good News On Housing Market

Housing minister Grant Shapps has welcomed a new report from an independent industry body showing that the abolition of Home Information Packs (HIPs) is giving a boost to the house market.

The report from the Royal Institution of Chartered Surveyors said: "Government announcements are already showing signs of impacting on the market. Surveyors report that the decision to abolish HIPs has pushed more supply onto the market. This trend is likely to continue in the near term."


Mr Shapps said: "The new Government is getting our economy moving. By acting quickly to cut the red tape of Home Information Packs, we've provided a helping hand to get the housing market off its feet. It's just got hundreds of pounds cheaper to put up a 'for sale' sign. This is a great time to put your home on the market if you're considering moving."

Ian Perry, RICS spokesperson, said: "Surveyors are generally confident that sales will continue to pick up over the summer months. The increase in supply as a result of the abolition of HIPs is helping to support this optimism despite continuing concerns about mortgage finance. A higher level of instructions should meanwhile also lead to a flatter trend in house prices in the latter part of the year."

(CD)