Coalition government 'signals the end of Hips'

Posted: 13 May 2010 10:43:59 GMT

The announcement of a new Conservative and Liberal Democrat coalition government could signal the end of home information packs (Hips), according to one expert.

Selwyn Lim, director of Mouseprice.com, says that both parties promised to abolish Hips in their manifestos and he welcomes such a move.

"Hips decreased liquidity in the housing market because, whilst it was a small factor, it nevertheless was a factor in putting some people off putting their properties on the market," he explains.

The Conservative Party advises that Hips have made a "significant contribution" to the problems in the housing sector, while the Liberal Democrats describe them as "burdensome".

Mr Lim states that there is likely to be a certain degree of uncertainty in the property sector until Hips are abolished altogether, with some homeowners putting off selling their house until the end of the measure is announced.

However, according to Findaproperty.com, in the four days following last week's general election, 87.7 per cent of homeowners questioned stated that political confusion would not put them off moving house.

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