Housing market slowdown 'not the fault of Hips'

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Housing market slowdown 'not the fault of Hips'

Thu 22nd Nov 2007

The recent slowdown in the housing market is not a result of the introduction of home information packs (Hips), it has been claimed.

Rob Kellermann, managing director of Firsthips, said that linking the market slowdown to Hips was "rubbish".

"The fact that anything under three bedrooms does not require a Hip now means that 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 remarked.

He added that "the same slowdown" was being observed "across the market" and not just in these particular types of properties.

Mr Kellermann suggested that people "will see the benefit" of Hips in the future and understand why they will introduced.

The government recently announced that Hips will be obligatory for all properties sold in England and Wales beginning on December 14th.

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