18/05/2009 by bill.

According to the latest house sale asking price index report from the property website, Rightmove, asking prices rose by 2.4% in May, the largest May rise Rightmove has measured since 2003, when property was seeing annual rises in excess of 15%.

However, with just 61,000 new sellers this month compared to 135,000 in May last year, a substantial proportion are not willing or able to come to market at all. This is the lowest number of new properties coming to market that Rightmove has seen in May since 2003, when Rightmove advertised around 35% of homes rather than the 90% today. Many prospective sellers have become effectively immobile due to insufficient equity to fund their move.

According to Rightmove, prospective buyers with nothing to sell are increasingly active, encouraged by 59,072 properties reducing asking prices by 2% or more in the last 4 weeks, with an average reduction of 6.8%.

Click here for more about house prices and buying a home

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25/02/2009 by bill.

FRom 6th April 2009 Home Information Packs - or HIPs - will be required to include a Property Information Questionnaire (PIQ).

The PIQ provides buyers with a checklist of simple information about a property to help them decide whether to view a property or to make an offer.

It includes:

* gas and electricity safety information
* flood risk information
* details of previous structural damage
* information about parking arrangements
* a leasehold summary

From 6 April 2009, the ‘responsible person’ (in most cases, the estate agent) won’t be allowed to market your property unless the HIP is available. You’ll need to make arrangements to have a HIP compiled (including paying for it) along with other preparations for selling your home. However, if there’s a delay in getting certain documents, like the local searches, these can be added after your house is put on the market.

If you need to get a HIP, you can choose any of the following options:

* get an estate agent to do it
* use a solicitor
* use a specialist HIP provider
* compile it yourself

For further information about the new HIP requirements and how to compile a HIP see DirectGov.

If you are looking to buy a home see moneyjungle.net for buying tips.

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