New Rules to Spark Mini Property Market Boom
May 29, 2008
Home Reports will prompt more sales
The introduction of home reports later this year could lead to a mini boom in Scottish property sales - but not for the right reasons.
December 1st will see the launch of the Scottish equivalent of the English Home Information Pack.
Home Reports will mean anyone selling their house will, by law, need to get an inspection carried out which will show in detail any short comings or issues with the 
property.
Surveyors estimate that Home Reports could cost sellers up to £1000, with vendors being fined £500 if caught marketing properties before a report has been completed.
One expert believes the market will be swamped in autumn as prospective sellers try to avoid the cost.
David Orr, area manager for Wise Property Care Glasgow South said "There has been a marked turn-down in the number of inquiries and property repair surveys we've received over the last few months.
"However, the introduction of the home report in December will, in my opinion, lead to a short-term boost in the housing market in Scotland.
"In September and October I wouldn't be surprised to see a lot of houses being put on the market as people attempt to sell before having to pay for one of these reports - and maybe pay for any work that would need done before anyone would consider buying them.
"What will happen to the market afterwards will be interesting.
"It might slow things further as people realise that even considering marketing your home will cost you money."
Wise Property Care, which carries out ‘health checks surveys' and advises on common problems and solutions on houses more than 50 years old, is expecting to see their business boom. The Glasgow firm has recorded £1.5 million takings in Glasgow and the West of Scotland over the last year.
They expect however, to double that in the 12 months following the introduction of home reports.
Mr Orr said "I think the introduction of the home report is a great thing for the buyer.
"The central belt of Scotland is affected by a lot of rain, and in Glasgow there are a number of Victorian tenements and sandstone villas which, due to their construction and their age, are affected by these conditions.
"It means people looking to buy a new home shouldn't find out six months later that they have some major issue that will cost them thousands to rectify".
If you would like a Property Health Check or advice on common problems and solutions, you can contact Wise Property Care on 0800 65 22 678 or visit our Contacts Page to find your local branch.
