Govt 'must act fast' to end Hips

The government must act fast to implement a change in the law to abolish home information packs (Hips), to ensure that the housing market is not stalled, the National Association of Estate Agents (NAEA) has said.

NAEA welcomed the pledge to scrap the packs, a promise that the Conservatives and Liberal Democrats both made in their election manifestos.

Hips had been a requirement by all people selling their house, providing information to homebuyers on issues such as energy ratings of a property.

Peter Bolton King, chief executive of the NAEA, commented: "This is great news for the housing market - but it is vital that the new government acts on this commitment boldly, decisively and quickly."

Mr King said that people would not spend money on Hips and sell their house if in a few months they could save money.

"The implications to the market of thousands of people suddenly deciding to hold off selling their home could be severe."

Although Hips will be abolished, saving DIY house sellers around £300, they will still need to file energy performance certificates.

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Published on: May 13, 2010

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