It would appear that the possible introduction of Home Information Packs, combined with interest rate rises, is affecting the housing market as people are rushing to put their homes on the market to avoid the possibility of paying for a pack.
Rightmove have indicated that the average property asking price is £237,361.00. Experts in the housing market are unsure how the market will pan out as there are two major factors influencing the market, the introduction of home information packs and the high interest rate. These two factors could have a negative impact on the market.
Our view
The introduction of Home Information Packs has been delayed. However, the factors slowing the market are there and appear to have achieved the desired affect.