12 Dec

HIPs do not deter buyers, says expert

HIPs do not deter buyers, says expert

A property expert has stated that home information packs (HIPS) do not have any bearing on people's decision on whether to buy a home or not.

Dismissing the idea that HIPs have a significant influence on buyer decisions, director of property portal Mousprice Selwyn Lim said it was "very clear" that the packs were not affecting the decisions people make.

He stated: "If you're buying a £200,000 house, whether or not it has double glazing fully installed or not is a very small consideration compared to the overall magnitude of the cost involved."

Mr Lim also suggested there would be little impact on property developers caused by the new climate change bill, stating that compliance would be included in the building cost, which in turn would be considered as one part of the greater analysis of the cost of building and potential revenue gained from the sale of the resultant developments.

Changes to HIPS were announced by housing minister Margaret Beckett last week, including making the packs available as soon as a house comes on the market and providing extra information about issues such as structural damage and flood risk.

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