HIPs Knock 1.1% Off House Prices - Rightmove

Flood of 1 & 2 bed homes listed

Submitted by: MikeC (Admin) on 17-Dec-07 06:04:18 PM

The Guardian has a report on the latest housing market stats from Rightmove for the month of December (December?! It's only the 17th!).

It claims there has been a flood of 1 & 2 bed homes coming onto the market between the 2nd and 8th of this month in a bid to avoid paying for a HIP, which, the report claims, accounted for 1.1% of the 3.2% fall in national house prices:

The Hip effect had, it estimated, added 1.1% to the average price fall across the UK and 2.3% to a 6.8% monthly fall in prices in London, where the proportion of the market accounted for by small properties was up from 43% last year to 50% this year.

House prices drop by 3.2% 'on Hips effect' | Money | Guardian Unlimited