So why am I celebrating?  Not because I have been flooded in with buyers due to my no joining fee policy but because of another policy being scrapped:

 

Give me a hip

Give me a hip hip

Give me a hip hip hooray!

 

No more stupid HIPS.  I won’t bother explaining what they were as I think we all know what they were: A damn pain in the butt! 

 

I am sorry to use such harsh words but they were like a big glass of water being poured on to a smouldering fire you were trying to keep alight.  No one wanted them and with an ounce of common sense one would have realised they were doomed.

 

I hate to say this but I am liking this coalition government.  They have acted sensibly and FAST.  All we need to see now is:

 

• LHA direct to tenant scrapped UNLESS they change the laws on eviction i.e. make non payment of rent a criminal offence.

 

• Scrapping of proposed national register for landlords in England & Wales.

 

Will we see it? We just might. 

 

So no more HIPS.  This means one thing:

 

Property prices will fall temporarily

 

The reason being the market will now get flooded with properties for sale, thus increasing supply and creating more competition for those few buyers.  However this is a good thing.  More properties will mean more buyers down the line.  And the more mortgage applications lenders receive puts more pressure on them to lend.

 

So in the short time we will see a healthy amount of properties coming on to the market.  This will mean the property market will get going and dare I say it things will resume back to normal. 

 

We have been through a long 3 years.  The credit crunch hit in August 2007.  Can you believe we have been going through this for 3 years?  It has been very painful to say the least.  We might just have the end in sight.  However I have been saying this for two and a half years so what do I know!

 

If you want to part of the Ahuja Group for FREE just speak to us and you are in!

 

Ajay

 

 

Posted on: 21st May 2010