Hips 'could ruin the property market'

Posted: 13 Apr 2006 09:35:31 GMT

            Property News - Hips 'could ruin the property market'

The debate over Home Information Packs (Hip) is now firmly in the realm of celebrity, with Kirstie Allsopp and Phil Spencer from Location, Location, Location adding their thoughts.

With the backing of anti-Hip group SPLINTA, the two presenters have penned an open letter to homebuyers and sellers, advising that Hips will only bring problems, reports the in2perspective website.

Ms Allsopp and Mr Spencer argue that anybody will be able to ask to see your Hip, irrespective of whether they actually wish to buy the property.

In addition to this, they argue that 30 per cent of sellers will be deterred from selling their house because of the cost of the Hip.

"It could ruin the property market and will fail to significantly improve the home buying process," they added.

Supporters of Hips have argued consistently that the market will benefit from increased transparency after June 2007, with fewer transactions collapsing as a result of misunderstandings.

With Hips expected to cost around £635 but considerably higher in cities, however, it is likely that many more people will look to sell property privately online next year as a means of significantly reducing the fees involved in the transaction.

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