House price fightback
- 15th October 2007
- Buying Property News
Property prices rose by 2.7% during September counteracting August’s fall.
Rightmove confirmed that they believed the increase was the strongest for the past six months. Despite the rise, Rightmove still believes that the property market shows continued signs of a slowdown.
Miles Shipside, commercial director, Rightmove believes that the recent price fluctuations are due to the introduction of Home Information Packs. He went on to say: “Legislative tinkering involving future cut-off dates has a history of unbalancing markets. In a stable market this presents fewer dangers, but in today’s more sensitive financial environment the effects can be more exaggerated.”
This view is also supported by Paul Smith, chief executive of Haart, who commented: “the partial introduction of Home Information Packs, which has undoubtedly stirred up confusion among consumers, skewing the market with unusual peaks and troughs in new instructions.”
The partial introduction of Home Information Packs... has undoubtedly stirred up confusion among consumers.
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