Hips complete full roll out


The government's maligned Home Information Packs (Hips), were finally rolled out to one and two-bedroom properties today (December 14th).

However, there have already been concerns that the new packs will begin to slow the rate of home purchases.

According to the National Association of Estate Agents (NAEA), the property market may begin to feel the adverse effect of the controversial packs.

President of the NAEA, Stewart Lilly, told the Guardian: "Following the first two phases of the implementation we've already seen a decline in the number of new instructions available. What further damage Hips will cause remains to be seen.

"It really would be in everyone's best interests to scrap Hips," he added.

Meanwhile, Hip Hip Hooray have welcomed full implementation of the packs but claimed they could be vastly improved by making the Home Condition Report a mandatory element.

Property Investment News posted on 14/12/2007 17:05:10