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All you need to know about HIPS...

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The effect of Hips on the property market

What effect has the introduction of home information packs (Hips) had on the housing market, and will their impact grow or diminish in the coming months? Few issues have caused as much wailing and gnashing of teeth as Hips. The Royal Institution of Chartered Surveyors (Rics) fought hard against them, seeking a judicial review ahead of their introduction because of a lack of proper consultation. Many of the surveyors contributing to the gloomiest Rics house-price survey since 1992, published last week, put some of the blame on Hips. The National Association of Estate Agents remains opposed, even though Hips have been required since December 14 for the sale of all properties.

 

Government retreat blamed for Hips delays

Poor preparation and a failure of nerve by ministers are to blame for the "long and torturous" introduction of controversial home information packs (Hips), an influential group of MPs will say today.

 

House buyers plan to use HIPs to drive a hard bargain

Home Information Packs have become the latest handy weapon for house buyers looking to knock thousands of pounds off asking prices.

According to a survey of 1,557 people by Hyder Consulting Environment and Home Survey, nearly half of all buyers said that they are ready to use the energy report in the HIP to demand a discount on the asking price. And 14 per cent of those surveyed said a poor energy report would make them think twice about buying in the first place.

 

Hips home packs get full roll-out

Home information packs (Hips) will be required for all properties being sold in England and Wales from 14 December, the government has announced.

Since September, all properties with three or more bedrooms have required a Hip before they can be sold.

 

House prices drop by 3.2% 'on Hips effect'

UK house prices fell by 3.2% in December, as seasonal factors and the full roll-out of home information packs (Hips) took their toll on an already slowing market, property website Rightmove claimed today. The website's latest survey of asking prices showed a dramatic fall from an average of £239,986 in mid-November to £232,396 this month.

 

Anger as Labour breaks HIPs vow

Ministers have come under fire from the House of Lords after bringing in Home Information Packs (HIPs) for all properties last Friday. The House of Lords select committee on HIPs, led by the Labour peer Lord Filkin, criticised the Government for breaking a promise not to roll out HIPs before scheme trial results had been published.

 

Hips roll-out could hit first-time buyers, says Rics

Plans to roll-out home information packs (Hips) to cover smaller properties could push home ownership further out of the reach of struggling first-time buyers, critics of the scheme warned today.

The Royal Institution of Chartered Surveyors (Rics) said there could be a sharp fall in the number of one- and two-bedroom homes put up for sale if the government goes ahead with plans to extend the controversial packs to include such properties.

 


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