Selling your house in the UK

Well the scottish system is slightly different and actually you may not notice the changes quite so much but certainly it will have an effect.

Worst predictions nationally are that it could reduce transactions by as much as 25% a year and still not reach present levels until beyond 2016. That may be somewhat alarmist and I cannot really comment on the accuracy of that statement but you may find there is a flood of property onto the market in April and May of this year in an attempt to beat the june 1st deadline. Its seems if you are already on the market at that point you are likely to be allowed until march next year to continue without a HIP.  Trouble with that as a plan of action is that if there are masses of houses suddenly coming onto that market in such a short period of time, this may scew demand and result in a glut of available property. This may actually reduced prices which whilst  this may initially be thought of as a good thing there could be serious consequences...houses wont sell if buyers think prices will fall and they think they could purchase cheaper by waiting for a few weeks! Because they wait there could be pressure put on those who HAVE to move to reduce their price quicker than say their neighbour to make their house look even more attractive.......this becomes a bit of a self fulfilling downward spiral.

Hey no one can really tell you how it will effect the market until we are actually in it but rest assured there will be consequences.......The HIp is founded on good principles but maybe it should be delayed until the ramifications have been fully considered.

Mike