RICS assess impact of HIP suspension on housing market – 21st June 2010

RICS have surveyed their members on the impact of the suspension of HIP.   They have asked four questions with the following results:-

1)      Will abolishing HIPS increase the number of new instructions received by estate agents? 

–         73% felt that it would with a range of responses between 55% and 88% depending on the region 

2)      If yes by what percentage? 

–         14% was the national average response with a range from 10% to 23% in various regions 

3)      Is there a need for a more effective replacement for the HIP? 

–         73% felt there was no need to replace HIPS with a regional range from 58% to 85% 

4)      Will the raising of capital gains tax discourage buy to let investors in the private rented sector? 

–         72% felt that it would with a regional variation of 58% to 100%
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