Hips 'should be suspended'

Posted: 06 Apr 2009 13:11:28 GMT

Selling a property from today has become a longer and more arduous prospect, the National Association of Estate Agents (NAEA) has suggested, following the rollout of Home Information Packs (Hips).

As of today (April 6th), potential sellers will need to be in possession of a Hip before the selling process can take place, whereas until now sellers had to only apply for the document before selling could begin.

Designed to offer buyers information regarding the structure of the property, its flood risk and much more key information, Hips are designed to make selling more transparent, but the NAEA claims that they are "ill-judged and unpopular".

"It reflects a stubbornness on the part of the government and a reluctance to admit that Hips in the main are pointless and expensive - and according to [the government's] own figures, ignored by the very people they claim benefit from them," argued Peter Bolton-King, chief executive of the NAEA.

The NAEA has argued that Hips should be suspended during the recession, in order to stimulate the property market and should then be reassessed once the economy regains strength.



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