Hips expansion

Posted: 10 Sep 2007 12:06:45 GMT

            Property News - Hips expansion

The rollout of Home information packs (Hips) continues today.

The rollout of Home information packs (Hips) continues today.

Following the launch of the packs for properties with four or more bedrooms in August, Hips are now a mandatory part of the home-selling process for three-bedroom properties as well.

Hips are designed to improve the process of selling and buying a home but have been the subject of much criticism.

An initial launch date in June was postponed due to a lack of qualified energy assessors and since then a number of problems have developed.

However, those who support the introduction of Hips say that the scheme has been a success and are delighted that it is being expanded.

Opposition still exists and Peter Bolton King, chief executive of the National Association of Estate Agents, is concerned at how Hips will affect the housing market.

"Our concerns have always been that the introduction of Hips would lead to a lack of supply following implementation," he commented.

"This does indeed seem to be the case with four-bedroom homes and is now likely to be replicated in the three-bedroom homes market.

"The next few months will prove crucial in seeing whether Hips are going to cause the sort of problems we feared," added Mr Bolton King.

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