12 Nov

Hips to 'squeeze supply of one/two bedroom homes'

Hips to 'squeeze supply of one/two bedroom homes'

Plans to extend Home Information Packs (Hips) to one and two bedroom houses would put further pressure on first-time buyers, it has been claimed.

According to the Royal Institution of Chartered Surveyors (Rics), applying hips to the properties will result in fewer smaller properties coming on the market for sale.

This in turn would push up the price of those homes which are for sale and in so doing contribute to a further barrier for first time buyers attempting to get a foot on the property ladder, Rics claims.

Rics spokesman Jeremy Leaf said: "The housing minister needs to understand that rolling Hips out to one and two bed properties could find first-time-buyers caught between a rock and a hard place as accessibility to the market would go off the scale."

Statistics from Rics showed that following the introduction of Hips for three or more bedroom properties the number of larger homes coming onto the market in October was significantly down compared with the previous year.

Among Rics members some 67 per cent said that numbers of such properties coming onto the market had fallen, as opposed to 11 per cent who said there had been an increase.


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