Hips 'causing selling surge'

Posted: 16 Apr 2007 11:05:21 GMT


            Property News - Hips 'causing selling surge'

The imminent introduction of the mandatory Home Information Packs by the government in June is leading to a surge of properties coming onto the market as homeowners bid to beat the deadline, according to a property expert.

The imminent introduction of the mandatory Home Information Packs by the government in June is leading to a surge of properties coming onto the market as homeowners bid to beat the deadline, according to a property expert.

Henry Pryor, founder of property website Primemove.com told Easier that while Easter is traditionally a boom time for sales as people use the school holidays to move, the number of houses coming on the market is more than expected, being "well ahead" of the forecasted 210,000.

He said this was "Good news for buyers who have been looking for months but it would seem that many sellers are keen to beat the 1st June introduction of the ill conceived Home Information Packs".

Mr Pryor's went on to argue that the scheme would waste £150 million a year on houses that won't get sold and that there wouldn't be enough inspectors to enforce the scheme.

According to the Daily Telegraph, such a shortage could lead to some sellers accepting a fine rather than pay out for one of the packs.

The paper reported that some pack suppliers could exploit a shortage of inspectors by charging up to £1,000 for a Hip, whereas the fine for not having the pack is fixed at £200.



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