Jun
28 Housing market receives boost due to scrapping of HIPs
The 2010 RICS Housing Market Survey headline net price balance for May increased from +19 to +22.
This is it's best level since January, buyer interest also continued to increase during the month. The new enquiries net balance edged up from +9 to +10. More significantly, the abolition of HIPs has resulted in a sharp increase in new instructions, with the net balance jumping from +11 to +21. This trend should also continue in the near future.
In response to a specific question, 73% of surveyors said that they expected the decision on HIPs to lead to a much higher level of new instructions with the increase in supply anticipated to be around 15%.