Web Bytes 151

Why homeowners won't shout hurray for hips
Ic Wales - UK
Home Information Packs are frankly an unnecessary cost placed upon sellers with no benefit.
Since the idea for sellers packs came about in 1998 as a move to stop gazumping, there has been a great deal of uncertainty as to their exact content and how they are to work. The numerous delays and strong ambiguity surrounding Hips has meant that any confidence in them has been destroyed and criticism has only mounted.

More than 500 estate agents, surveyors and solicitors in England and Wales have joined Splinta, an anti-pack campaign group, to urge the Government to scrap Hips. Along with the Council of Mortgage Lenders and the Law Society, they argue that Hips will make the home buying and selling more difficult and more expensive. Consumer group, Which? (originally in support of the packs) has also joined the campaign against them, as it now feels that the legislation is so watered down, there is no benefit in their introduction.
Ic Wales

Rate hikes slow rise in house prices
Business Day - South Africa
An uncertain interest rate environment is contributing to the continued slowdown in South African house price growth with nominal house price growth of 14,5% year on year recorded in the middle segment of the market last month.

According to the latest ABSA house price index, this was down from the 15% year-on-year growth recorded in June.

ABSA, SA's biggest home loan lender, said that the average price of a house increased to about R932,000.

ABSA senior economist Jacques du Toit said yesterday that this downward movement in house price growth was largely expected because of the uncertain interest rate environment.
Business Day

How to make a building pay
NetAssets - South Africa
Superlative levels of maintenance and competitive marketing to attract and retain tenants are key to extending the life cycle of buildings and thus maximising property investors' returns, Trafalgar Property Group MD Andrew Schaefer said.

Buildings have a 40-year life cycle on average and maximising investment demands sound property management.
Net Assets