Peter Rollings commenting on the suspension of HIPs
Thu 20 May 2010
"In the prime central London property market, the cost of HIPs has not dampened the supply of homes for sale like in other parts of the country. However, they are an unnecessary irritant for sellers and the vast majority of buyers are not prepared to rely on them, choosing instead to pay for a survey to find out the crucial information they require about a property. HIPs may have been designed to speed up the home-buying process, but the failure of policy makers to include key elements - such as a structural survey - meant they were doomed from the outset. The coalition government has listened to buyers, sellers and property professionals and responded quickly by suspending HIPs. In many parts of the UK, this will encourage more homeowners to put their properties on the market and give a welcome boost to the housing market revival."- ends-
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