Hips implementation is complete

14-Dec-2007

The rollout of Home information packs (Hips) ends today as the packs become a mandatory part of the home-selling process for properties with one and two bedrooms.

The packs have been part of the selling process for larger properties since earlier this year, but there have been conflicting reports as to how they will affect first time buyers.

The Royal Institution of Chartered Surveyors (Rics) has said that first time buyers will suffer from a lack of available properties as sellers are put off by the price of a Hip, while the National Association of Estate Agents (NAEA) has called the packs 'a shambles'.

But a new study by Hyder Consulting has pointed to ways in which buyers may be able to benefit from the packs' Energy Performance Certificates (EPCs) in future when looking at buying a first property.

Forty-four per cent of UK adults would attempt to get a discount on a property that had scored poorly in the energy efficiency stakes, the study found.

Add this to the fact that the Department of Communities and Local Government has already said that most existing UK homes would score no higher than a C grade, and buyers could find that they are able to secure some bargains.

"We welcome the full roll out of Hips today in particular because of the help they give to first time buyers but this is only the beginning," said Mike Ockenden, director general of the Association of Home Information Pack Providers (AHIPP).

"We are now looking to work with all other industries involved in the home buying and selling process to develop and improve Hips and their content, so that they can be fully incorporated into the house buying process," Mr Ockenden added.

Rate cut to help new buyers.


Hips rollout 'will hurt first time buyers'

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