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All you need to know about HIPS...

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HIPS cost us more

The Government’s Home Information Pack fiasco has wiped thousands of pounds off the value of homes, according to new figures.

Labour’s U-turn, in which the introduction of HIPS – which is being overseen by Communities Secretary Ruth Kelly – was postponed, has already led to panic and confusion in the housing market. But analysts now claim it has also knocked around £4,500 off the price of an average property in the past month alone.