First time buyers 'will be indifferent to Hips'

10-Sep-2007

The government's Home information pack (Hip) scheme has today been extended to homes with three bedrooms or more and has continued to court controversy as industry organisations decry the effects the packs are having on the housing market.

The National Association of Estate Agents (NAEA) has said that Hips, which came into effect for homes with four or more bedrooms on August 1st, have resulted in supply slowing.

However, first time buyers are likely to remain relatively indifferent to the effect of the packs in the long-term, according to Chesterton Sales area director Giles Cook.

"Taking a long view, initial resistance will subside to indifference," Mr Cook asserted.

"Though the logic is laudable one wonders how much people care about the energy profile of a house when stock shortage means many are grateful to get their foot though door," he outlined.

The government has yet to announce that date upon which all homes will need a Hip in order to be sold in the UK.

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