Burton and Uttoxeter MP Andrew Griffiths has welcomed news that house prices continued to rise in May following the Government’s decision to abolish Home Information Packs (HIPs).
Around 22% more surveyors reported a rise in May in the cost of property than those who saw a fall, according to the Royal Institute of Chartered Surveyors. More significantly, though, the number of surveyors who saw an increase in the number of homes being put up for sale nearly doubled during May as confidence levels in the market rose.
“The housing market has been depressed for a long time and this will be a major boost to buyers and sellers in Burton and Uttoxeter. I’m pleased that scrapping this unnecessary and costly regulation will make buying a house easier and cheaper for everybody concerned and I hope it helps to get the housing market moving in the area.”
Nearly three quarters of surveyors have said they believe the decision to scrap the controversial HIPs will lead to higher levels of property on the market.