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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?

Comments

Whatever happened to the maxim of "caveat emptor" - Let The Buyer Beware? In other words the risk was on the buyer not the seller to ascertain the state of the property. Now the demarcation is blurred, confused, bureaucratic and more expensive. How very NuLabour!

Yet again, Labour are totally unable to let go of one of their failed flagship policy. Bit like eco towns.

Doctor Mick, whatever the practicalities of HIPs, house sales are clearly one of those situations where with one seller per item, but many potential buyers, it is more economically efficient for the seller to get some of the groundwork done.

I know dodgy houses which seem to keep surveyors in business all on their own, selling every month at a bargain price, with a sale that then falls through when the dry rot / subsidence / ghost in the attic comes to light.

IIRC the Government committed us to the energy efficiency survey and Europe took us up on it. As a result, HIPS came in with the energy survey smuggled in amongst all the rest of the guff. HIPS will not disapeer unless or until the Governemnt gets a backbone and stops doing stupid things to please Europe ...

John I do understand the theory - I was a chartered surveyor in another life - but anyone proposing to spend the largest sum in their lifetime would be well advised to still commission their own structural survey and certainly the mortgagor will still want a survey.

Looking at someone else's document is no substitute for looking at the real thing.

It is just another cost to be added to an already expensive process.

Sigh.

How many times do I have to point this out?

HIPs are a requirement of the Supreme Government in Brussels. They are nothing to do with any UK politician or official, and cannot be changed, amended, delayed, resisted, or anything else at all by anybody we have any influence over.

Get used to it. This is how we are governed now.

I doubt that she has bought a house with anything other than MY MONEY! Mr Duffin is quite correct, HIPs originate from the Supreme Commissariat of the European Soviet Socialist Republic and I must caution any correspondent that arguments against HIPs constitute a "thoughtcrime" and the perpertrator may be liable to summary re-education.

"Margaret Beckett, the Housing Minister"

That's the start of the problem, right there. Since when did private housing require a cabinet post?

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