HIPs have been suspended

The government has today announced that Home Information Packs are to be suspended from 21st May 2010.  This confirms the Conservative Party’s intention stated prior to the election. The Energy Performance Certificates will continue, as they are a European Union directive, and will be valid for 10 years.

Inflation Figures released for March 2010.

The Consumer Prices Index, which is used by the government to measure the annual inflation rate, rose to 3.4% last month (March). It was 3% in February. The increased price of petrol and diesel, and the knock-on effects of this on other sectors, is blamed for the increase. Also, the bad weather in January forced the price of certain produce up, as some vegetables became more scarce as a result.

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Source: Office for National Statistics 20/4/10

Bank of England Maintains Bank Rate

The Bank of England has maintained the help to the economy and the property market by leaving bank rate at 0.5% for another month.  

The Bank Rate was previously changed by a reduction of 0.5 percentage points to the current 0.5% on 5 March 2009.  This will no doubt encourage the property mortgage rate for the majority of lenders to stay at relatively low levels. 

Building Survey and Valuation data has shown that the general property market is relatively active for those able to pay larger deposits.  The extent of the recent stamp duty changes on property sales has yet to be accurately established.   Many lenders are charging higher rates and limiting the availability of funds to those with smaller deposits available for property purchases.

8 April 2010

Election uncertainty over ?

So the election has been called and some uncertainty for the economy and the property market may soon be over.  We will know which collection of politicians forms the next government after May 06th.  How will their individual policies affect the property market?

Confidence in property house prices, property sales volumes, property valuations, building surveys and the legal changes proposed could all be affected by the outcome. 

A detailed analysis will be made on a party by party approach over the coming weeks and posted in the propertysurveying.co.uk newsletter archive.

06th April, 2010