24
Jun
Increase in houses for sale 'result of homebuyers trying to get
profit'
The recent rise in the number of houses for sale on the property
market is the direct result of homeowners trying to make some
profit before the Budget changes take effect, it has been
suggested.
According to first-time buyer consultancy company Firstrung chief
executive Paul Holmes, the increase in the number of sellers is not
to do with the suspension of home information packs (Hips) but a premature fear of the capital gains tax
changes the government was likely to make in the emergency
Budget.
He said: "I think the rush is [because of] sellers en masse being
very concerned that this summer may be their last opportunity to
exit the property market with some profit."
Mr Holmes' comments were in response to the recent figures released
by the Rightmove House Price Index, which revealed that there had
been a 22 per cent increase in sellers coming onto the market after
the government suspended the use of Hips.
