Property Market Surges
The abolishment of HIPs is still proving to have had a positive effect on the property market according to property website Rightmove who reported a surge in the number of properties being listed in the 7 days following the announcement.
Commenting on this increase, commercial director of Rightmove Miles Shipside explained such rises in property listings are usually quite common during the aftermath of an election, as uncertainties have become answered.
However, even Shipside was astonished by how large this increase was, attributing this rise to the fact that more speculative property owners have returned to the property market in the hopes of selling.
Take these statistics for instance.
According to Rightmove’s report:
- Wales saw the biggest increase of 66%, whilst
- North West saw only a 12% increase
Yet property listings are not the only aspect of the property market to have flourished following this abolishment. Property instructions too have seen a rise, according to estate agency firm Countryside.
In the weeks following the HIP abolishment, they saw a 34% rise in the number of property investments going up for sale…
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Tags: property investments, property listings, property market, property owners, property website
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