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Estate Agents Say Suspend Hips

Estate agents are calling for home sellers’ packs to be suspended, branding them an expensive waste of time.

Peter Bolton King, chief executive of the National Association of Estate Agents and a longtime critic of the home information packs (Hips) scheme, said the £300 price tag of the packs punishes sellers already suffering from the effects of market devaluations.

After spending more than a decade in the planning stages, the timing for the introduction of Hips could hardly have been worse.

Just one year after it became mandatory for all property sellers in England and Wales to purchase a Hip before marketing their home, house prices fell 16 per cent on average, according to the Royal Institution of Chartered Surveyors.