The original deadline of 1 June saw an initial surge before the deadline was changed to 1 August for properties with a minimum of four bedrooms. According to the latest data from the NAEA, the number of buyers remained level in May, as did sales despite any possible deterrents in the cost of moving.
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The NAEA also reported a surge in the amount of housing stock available with the number of properties per agent leaping by 16.1 per cent from 62 per cent to 72 per cent in April, the highest monthly increase since December 2005. The original increase was a desire to avoid the anticipated HIPs legislation and the latest numbers showed the lengths sellers were going to in order to avoid the extra costs.
Stewart Lilly, president of the NAEA, said: “Even with the announced delay, agents still found that properties were being placed on their books at a fast pace. This will still be the case throughout June and may continue into July in anticipation of the launch date of 1 August.”
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Karen Babington, sales and marketing director at Easier2move, said: “August is traditionally not a busy time for moving house, and the negative press coverage means that there’s not much confidence that HIPs will arrive in August anyway.”
