HIPs Blame For Home Sales Fall

The number of four-bedroomed properties on the market has fallen, by around 37 per cent, in August 2007.  

Home Information Packs (HIPs) were introduced for four or more bedroomed properties on 1 August 2007 and on the 10 September 2007 for three bedroomed properties, and is believed to have had an impact of the property market.  

The National Association of Estate Agents are predicting that following the introduction of Home Information Packs (HIPs) for three bedroomed properties, a wait and see attitude from people who are unsure of the implications of the new legislation, may disrupt the market further.  

Our view

There has traditionally been a lull in the property market in July and August for the past eight years and the introduction of Home Information Packs (HIPs) is not to blame.  This would not affect whether you buy a home it will only affect which one you buy as there were many properties placed on the market before HIPs started.  

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