Rise in house sellers 'not to do with Hips'

DIY house sellers have not been affected by the abolishment of Home Information Packs (Hips).

According to Paul Holmes, chief executive of Firstrung, more people were selling their houses before the new Budget was announced and because they are "concerned that this summer may be their last opportunity to exit the property market with some profit."

The Rightmove House Price Index revealed this week that there has been a 22 per cent increase of house sellers on the market, putting it down to the suspension of Hips, the controversial forms that provide information on a property.

But Mr Holmes said that people were more concerned about putting their houses up for sale before the capital gains tax (CGT) and other taxes increased through the Budget.

Yesterday (June 22nd) chancellor George Osborne announced a rise in CGT for high rate taxpayers to 28 per cent, while other individuals remain at the 18 per cent rate.

Posted by Morag Lyall

Published on: June 23, 2010

Did you like this article? Share it!

House Buying, House Selling & Conveyancing

DIY house selling buying guide advert

Our step-by-step guide shows you how to cut out solicitors and estate agents and save £££.

Read More