UK property market slowdown delays HIPs
UK property market slowdown delays HIPs
It's not just the volume of house sales that is being affected by the slowdown in the UK property market, the
introduction of a new government
initiative is also taking a backseat. The Daily Telegraph today discloses that
the final roll-out of Home Information Packs (HIPs) is facing a delay.
Since December 2007, home-sellers have been required to have ordered a HIP before placing their property on the
market, but have not actually needed to complete one. Nevertheless, at the end of this month this was due to change
and anyone selling their house would have been required to have gone one step further and actually completed the
pack, providing such documentation as title deeds and an energy performance certificate.
However, the current problems dogging the UK property market have led to the Department of Communities and Local
Government having a rethink and putting the planned new requirements on hold. As a result, it is expected that the
completion of a HIP will not become mandatory until the end of this year.
The news of the delay has been greeted with scepticism by Labour's Opposition, who claim that HIPs are causing are
merely proving problematic. Grant Shapps, the Conservative housing spokesman, said: "This proves that Labour
believes HIPs are unworkable. HIPs have only served to strangle the housing market at a time of uncertainty instead
of providing it with the stability it needs."
Nonetheless, according to communities.gov.uk, Labour's communities and local government website, the introduction of
the HIP will improve the process of buying and selling homes in the UK. Labour also hope that the pack will also
encourage homeowners to be more eco-aware, by giving tips on how to make a home more energy efficient.
This story was brought to you by holiday
lettings.co.uk, the UK's No.1 holiday home website.
7 May 2008
Print this article
