HIP's demise the leading cause for a surge in instructions?

Update 03/06/10: Following on from the Telegraph articles (see two posts below) purporting to show 30% increases in houses going to market as a result of HIP's being removed, it seemed prudent to examine other factors contributing to the aforementioned increase.

Firstly, Nationwide's chief economist, Martin Gahbauer has suggested one possible reason. He cites that a looming increase in Capital Gains Tax, has urged many to push for a quick sale to avoid any possible additional cost. Supporting his assertion, this article from the Guardian, published one day before HIP's demise, points to estate agents reporting a deluge of inquiries from landlords about the possibility of selling before the CGT rise is introduced. The proposed CGT increase would far outweigh the money saved by not having to produce a HIP, suggesting it may be a more influential factor, than has been widely acknowledged.

Furthermore, The Bank of England yesterday asserted that mortgage lending increased month on month by £0.5bn in April. This is a sizeable increase compared to the March rise of £0.2bn. Increased availability of mortgages, is likely another factor behind the increase in instructions.

Whilst the removal of HIP's may well have encouraged some to enter the housing market, as shown above there were other contributing factors, which arguably were more influential.