Hips are 'not to blame for slowdown'
Blaming Home Information Packs (Hips) for the slowdown in the
housing market is unfair, it has been claimed.
Latterly, the packs have come in for criticism from the Royal
Institute of Chartered Surveyors (Rics) which said that sellers
will baulk at paying hundreds of pounds for them.
This in turn Rics reasoned has prompted sellers to delay putting
their property on the market, prompting a slowdown.
However, according to Rob Kellermann, managing director of
Firsthips, highlightin the link between Hips and a decline in the
housing market is exaggerated.
He said:" It was on the cards that the property market was going to
slowdown but certainly not because of Hips. If you are selling your
house for £200,000 you are not going to say 'I'm not selling
it anymore because I've got to pay £300'.
"It is all rubbish. And the fact that anything under three bedrooms
does not require a Hip now means that if Hips were slowing the
market you would expect to see less of a decrease in one and two
bedroom property sales, but that isn't the case.
"We are seeing the same slowdown across the market."