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Hips have mitigated home sale cancellations

Home sale cancellations declined since the introduction of home information packs (Hips), according to LMS.

Figures from the Hip provider show that cancellations of instructed sales dipped from 17 per cent at their peak during the summer to just 15 per cent up to December last year.

The fall comes despite the turbulence in markets which analysts had projected would prompt an increase in cancellations.