hipsandhcrs

The Royal Institute of Chartered Surveyors is putting pressure on the Government to further delay full rollout of Home Information Packs (HIPS). They claim that the introduction of HIPS has reduced the number of larger homes being marketed as speculative sellers are put off by the cost of the HIP. They also expect the number of smaller homes being marketed when HIPS are fully rolled out to be affected in the same way, which the Institute fears will make it even more difficult for first time buyers to get on the housing ladder.

The Association of Home Information Packs providers responded to the allegations by saying that the RICs had forgotten that first time buyers are set to benefit most from the full introduction of HIPS as they will not have to pay for the information in the HIP and they will be in a position to make a more informed decision.

AHIPP’s Deputy Director General, Paul Broadhead, said: “Research amongst our own Estate Agency members suggests that whilst the supply of property on the market is lower than usual at this time of year, the actual stock on Estate Agents books is not. This would suggest a lack of buyers in the market place, and as most buyers are sellers they are unlikely to put their home on the market if they are not thinking of moving.” (more…)

It was announced today at the Association of Home Information Pack Providers (AHIPP) Annual Conference that the full rollout of home information packs has been put on hold due to the current market conditions. Iain Wright, Parliamentary Under Secretary of State for Housing and Planning broke the news while addressing the conference, he stated that housing market volatility was the only reason for postponing the rollout of HIPS again. He went on to say that the HIP rollout would not be completed until the housing market stabalised once again. This is disappointing news for the HIP industry in the short term, but long term housing stability is much more important.

hipandhcrs are affiliate members of AHIPP