AHIPP attacks Tory HIP plans

The Association of Home Information Pack Providers (AHIPP) has scorned Tory plans to abolish the home information pack (Hip) scheme.

In a statement yesterday Conservative shadow housing minister Grant Shapps confirmed: "A Conservative government will scrap this red tape, investing in Home Information Pack companies should now carry a health warning."

He went on to say: "Sensible investors should consider the high risk involved in this business, and companies would do well to diversify.

"The days of Hips are numbered, and the housing market will be better when they go."

However, the AHIPP has reacted with fury to the comments.

Mike Ockenden, AHIPP director general, responded: "I find it astonishing the Tories feel it is their place to give investment advice to businesses, particularly in such volatile market conditions.

"Companies that have invested in Hips have done so because the Hip industry will make them work to the benefit of home buyers and sellers.

"By the time any future Tory administration takes office Hips will be a routine part of the process and accepted as a valuable tool by all."

Hips were introduced to the UK property market in a staggered process during 2007, with all properties sold now requiring one.

However, the government has repeatedly delayed the so-called first-day marketing of Hips – meaning they are only required at the completion of sale, and not the first day they are put on the market.

This requirement is presently expected to be implemented "at the end of the year".

"The Hip industry is largely made up of experienced property professionals that understand the benefits that Hips can provide to better inform consumers and streamline the home buying and selling process.

"It is highly unlikely that they will be influenced by further political posturing," concluded Mr Ockenden.

Chris O'Toole