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Scrapping of Hips has immediate impact

Estate agents around the UK are reporting a significant increase in the number of properties for sale after the coalition government announced the scrapping of home information packs. While these information packs have attracted much controversy since their introduction by the Labour government, nobody quite expected the immediate increase in homes for sale. It would appear that simplifying the sales process within the UK has caught the eye of many potential sellers and the market should be more fluid in the future.

However, the UK property market is proving very difficult to forecast and a number of prominent players in the market are expecting a difficult few months ahead. At best many believe that the initial rise in property prices in the first half of 2010 could be offset by a difficult second half in 2010 but this remains to be seen. A number of experts are also pointing towards problems within the European debt markets which will ultimately impact upon the cost of mortgages in the UK and around Europe.

Quite what the UK government can do to respond to the growing debt market problem remains to be seen but this is an issue which will just not go away.

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