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According to Rightmove, in the 7 days after the government announced the scrapping of Home Information Packs (HIPS), new properties For Sale dramatically increased. Property listings ranged from a high 66% increase in Wales to the lowest increase of 12% in the North West of England.

Rightmove believes that this is a clear sign that homeowners were put off from property marketing because of the hassle and costs involved with arranging a HIP.

Rightmove comments how sellers are now having to price their property to attract more buyers:

"In May last year average asking prices rose by 2.4%. The average May increase over the past decade has been 1.5%, so with a more modest monthly increase of 0.7% there are signs that this year's sellers are now toning down their bullish spring price expectations. What they have not done is stay off the market, or be put off by the political uncertainty. In the last full week before the election, Rightmove recorded its highest number of new listings for nearly two years. The last time we recorded over 30,000 new listings in a week was in the week commencing 28th June 2008."

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