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Friday 21st of November 2008
December 14, 2007

Hips remain unpopular as full roll-out arrives


by Gill Montia
”Hips

Home Information Packs (Hips) are now required for all properties for sale in England and Wales.

Hip requirement has been introduced in tranches and from today includes one and two-bedroom properties.

The controversial packs, which cost between £300 and £500, include a sale statement, standard local searches, evidence of title and an energy performance certificate.

While they are aimed at speeding up the house selling process and reducing purchasers’ costs, the National Association of Estate Agents (NAEA) remains opposed to their introduction.

Stewart Lilly, the NAEA president states: “Time and time again the industry has advised the government against the packs. We only hope that at some stage it starts listening. At the moment EPCs (Energy Performance Certificates) aside - Hips are just wasting everyone’s time”.

The NAEA is also concerned about the impact of Hips on the housing market and Mr Lilly points out that: “Following the first two phases of the implementation we’ve already seen a decline in the number of new instructions available”.

At the same time, the Royal Institution of Chartered Surveyors (Rics) has described the Government’s policy as “flawed” and expects the latest extension of the scheme to create further problems for first-time buyers by reducing the supply of smaller properties.

The Rics believes that Hips have contributed to a reduction in the number of properties coming onto the housing market this year, by putting off speculative sellers.

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Story link: Hips remain unpopular as full roll-out arrives


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