Rightmove recorded the number of new listings to its site in the 7 days before and 7 days after the HIPs announcement. The results show that new listings have increased by 35.4% since the announcement was made.
Miles Shipside, commercial director of Rightmove, comments:
We would expect to see a post-election pick-up in fresh stock coming to the site as people have been put off by the uncertainty of the election recently.
"However 35% is a significant increase in new listings, and indicates that many more speculative sellers have been encouraged to bring their properties to market since HIPs were scrapped. It seems that the additional cost and red tape were putting sellers off.
New listing numbers were up throughout the country, although levels varied across each region. Wales saw the highest increase in listings with the number of new properties brought to market going up by 66%, while the lowest was in the North West where the uplift was 12%.
