Budget set to hit housing market harder than Hips?

Thursday, 24 June 2010 2:00 PM

Homeowners are more concerned about the prospect of losing money on their home than the impact of home information packs (Hips), according to one industry expert.

Firstrung claims that the impact of chancellor George Osborne's Budget on people's housing market behaviour will be more evident than Hips, according to.

The first-time buyer solutions provider chief executive Paul Holmes explained that the impact of capital gains tax and the rush to sell property this summer before prices plummet will be among homeowners' greatest concerns.

He explained: "I don't think the suspension of Hips [has had any effect] and I think that's a red herring in their commentary."

Concerning the rush to sell, he indicated that sellers are "concerned that this summer may be their last opportunity to exit the property market with some profit".

Earlier this month, the Rightmove House Price Index revealed that there had been a 22 per cent increase in sellers coming onto the market in June.

This follows directly from the abolition of Hips.

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