First-time buyers 'have more choice since abolition of Hips'

07-Jun-2010

Published by Sam Franklin

Government scrapping of home information packs (Hips) has encouraged more sellers to place their house on the market, according to one property expert.

First-time buyers and people wishing to move house have benefited from a significant increase in listings since Hips were suspended last month, suggests Briffy.com

David Amstell, founder of Briffy.com, said "the chance of testing the market for free was taken away when you had Hips".

People are much more likely to put their home up for sale now the extra cost has been removed, he stated, meaning there is increased choice for prospective homebuyers.

However, Mr Amstell warned many of the individuals listing property may be "chancers" interested in finding out the value of their home: "If they get a reasonable price they may sell, but if they don't they have lost nothing and it has just cost the estate agent his fees."

Communities secretary Eric Pickles described Hips as creating unnecessary expense for home sellers and buyers and blamed them for "stifling a fragile housing market".

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