RICS have surveyed their members on the impact of the suspension of HIP. They have asked four questions with the following results:-
1) Will abolishing HIPS increase the number of new instructions received by estate agents?
– 73% felt that it would with a range of responses between 55% and 88% depending on the region
2) If yes by what percentage?
– 14% was the national average response with a range from 10% to 23% in various regions
3) Is there a need for a more effective replacement for the HIP?
– 73% felt there was no need to replace HIPS with a regional range from 58% to 85%
4) Will the raising of capital gains tax discourage buy to let investors in the private rented sector?
– 72% felt that it would with a regional variation of 58% to 100%
