27
Mar
Hips 'have not been negative'
Home information packs (Hips) have not had the negative impact that
many people predicted on the property market, it has been
claimed.
Director general of the Association of Home Information Pack
Providers Mike Ockendon stated that the market has not been dented
by the presence of the packs.
And he suggested that current problems being witnessed on the
market are there because "people aren't coming out to buy".
Mr Ockendon added that the main purpose of Hips is to try and
reduce the number of deals that fall through between acceptance
offers and contract signing and that they have not "materially"
impacted on the market.
"We're not there to try and fix the 41 per cent of buyers who
didn't find anything out to cause them to change their mind, we're
there to try and fix the 25 per cent of transactions that fall
through," he commented.
Since December 14th last year, all homes entering the property
market need to have a Hip to inform potential buyers about energy
efficiency, among other aspects.