Property market sees signs of hopeApr 27, 2009
“Of course these figures have to be taken in context. Compared to the number of domestic property instructions we were receiving 18 months ago, the market is still highly suppressed. While there is no concrete evidence to suggest the market has bottomed and the good times are on the way back, this is certainly positive news.”
One recent legal development which could slow the market down again is the removal of temporary arrangements for Home Information Packs.
Before April 6, home owners could put their house on the market by just ordering a HIP but without having to wait for it to be in place. Now every new home put up for sale must have a HIP in place, slowing down the process of getting a property on the market.