Is this the start of 7 years of woe?

[beaker]

From my observations, if anything there has been a lack of supply for several months that has kept asking prices high. This is, and will be, compounded by mandatory HIPs now, which will stop opportunistic homeowners from listing their properties with no real intention to sell. Anyway my point is... anyway these are my observations

[Moscow Mule]

The premise of the article appears to be that people were willing to accept a drop of several thousand pounds in the sale price of their house in order to save the few hundred a HIP would cost..

I think not, the article is saying house prices have fallen this month, partly due to HIPS and partly due to the fact that nobody wants to move in December.

Repeat after me, everybody: correlation does not imply causation.

As AtW says, it's just a coincidence.

There was a correlation at the last HIP deadline too.

Two correlations do not make a rule, but it does make it being a coincidence less likely.

[Moscow Mule]

...compounded by mandatory HIPs now, which will stop opportunistic homeowners from listing their properties with no real intention to sell...

This lack of speculative stock on agents books may keep prices on a par for a little longer, but I expect the overall economic conditions to overtake this factor soon enough

[beaker]

This lack of speculative stock on agents books may keep prices on a par for a little longer, but I expect the overall economic conditions to overtake this factor soon enough

I agree.

[Diver]

I just bought another house, picked up the keys last week. told the owners conveyancer that I did not require a HIP'S report on the property, and was asked to put it in writing or they would have to supply one by law.

I told them I am gutting the building, rewiring, new heating and plumbing, re plastering from top to bottom, new roof, new insulation, damp course, kitchen bathroom, hardwood flooring.
what's the point of a HIP's report ?

Still had to waste my time and put it in writing to save the guy a few hundred quid. ridiculous