Research by Agency Express showed that all regions in England and Wales saw noticeable increases in the number of properties coming to market, with the biggest impact being seen in the West Midlands where listings were up 42.2%.
London saw a 34.4% increase, the South West 29.5%, the North East 28.4% and Central England 24.1%.
The top five cities in the UK that saw a positive reaction to the HIPs suspension were Southampton, up 103.5%, Coventry, up 77.6%, Colchester, up 56.1%, Oxford, up 53.8% and Birmingham, up 47.7%.
Yet, Agency Express figures showed that in Scotland, where Home Reports have been retained, there was a drop of nearly 8% in the number of new properties being put on the market, the only part of the UK to experience a fall.
Stephen Watson, managing director of Agency Express, said: “Our data confirms what we all suspected – that HIPs were an unnecessary and inhibitive addition to the house sales process.
“Its removal has immediately injected a welcome surge in properties coming to market that will provide more choice for prospective buyers, help to stabilise prices and reduce the costs of selling your home. We will be monitoring the strength of this apparent recovery in the supply of properties for sale over the coming weeks.”
