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Hips become compulsory for three-bed houses

Monday, 10 September 2007 12:00 AM

Please note this is archive material. Home Information Packs - or HIPs - were suspended on 21 May, 2010.

The government's home information pack (Hip) scheme will been rolled out to include three-bedroom properties today.

This means approximately 60 per cent of housing stock in England and Wales is now included in the scheme.

Despite industry fears over the initiative, the introduction appears to have gone smoothly.

"The launch of Hips for four-beds has been fairly uneventful, for the most part it seems to have gone off rather well, although some agents report a decline in the number of four-beds and above properties on the market," commented Mike O'Flynn, head of content at FindaProperty.com.

"It's difficult at this early stage to say definitively whether that's due to Hips, but it's certainly true agents are very concerned about the impact extending the scheme will have on a cooling market."

Hip providers also praised the introduction of the scheme.

"Not so long ago we were eagerly anticipating the roll out of Hips for four-bedroom and above properties. This went so smoothly that the government quickly announced this further roll out for three-bed properties," said Dominic Toller, director of marketing LMS, the country's biggest Hip provider.

"Much to the despair of the anti-Hip lobby, here we are welcoming Hips for over 60 per cent of housing stock. Much needed reform is underway and it hasn't brought the housing market to its knees as some had predicted."

Despite these glowing endorsements, much controversy still surround the housing initiative.

In particular, concerns have been raised over the limited number of qualified inspectors in place to assess energy certificates and worries persist the additional cost will deter sellers from entering the market.

"Aside from concerns about the implementation of Hips, it's questionable whether the scheme can deliver what the government originally promised - fewer aborted sales, a faster buying and selling process, and less gazumping," concluded Mr O'Flynn.

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