Market slow down ''not caused by Hips''


Thu 22nd Nov, 16:49:40 GMT

Home information packs (Hips) are not responsible for the slow down in the housing market, it has been argued.

Since the launch of the controversial scheme, many property professionals have commented that they do not think they are necessary, with a recent survey from the National Association of Estate Agents suggesting that Hips are in fact deterring homeowners from putting their homes on the market.

Rob Kellermann, managing director of Firsthips, an organisation that offers estate agents and property lawyers a way to order Hips online, rejected the criticism, pointing out: "At the end of the day a Hip costs £300.

"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," he added.

While figures from a number of organisations, including Nationwide and Halifax, have said that the housing market is slowing, Mr Kellermann said this had nothing to do with the Hip scheme.

"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," he explained.ADNFCR-1143-ID-18366602-ADNFCR


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