Strangling the property market.
Before Hips people were happy to just float their homes out on to the market to see if there were any nibbles. Now it is a major commitment to do so so they don't and the market is less vibrant.
Bleak outlook for new home information packs
...new rules on home information packs (Hips), which come into force today.
The changes, described by estate agents as “pointless and damaging”, prevent sellers from marketing homes until they have a pack giving information on issues including structural damage, flood risk, parking and service charges. Previously, the process could start as soon as a pack had been ordered...89 per cent of agents did not think that the new arrangements would benefit buyers. Government statistics showed that 77 per cent of people paid no attention to the packs when deciding whether to buy a property.
The Government defended the changes. Margaret Beckett, the Housing Minister, said: “We think it is right that consumers are well informed about the home they are looking to buy, and Hips are an important aid to potential buyers when making one of the biggest financial decisions of their life.”
Has Beckett ever bought a home of her own with her own money, or just a caravan?