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Friday, December 14, 2007

HIP's

In a clear demonstration of pigheadedness and arrogance, the government has now extended Home Information Packs (Hips) to cover 1 and 2 bedroom properties put up for sale in England and Wales.

Needless to say, given the current credit crunch and ongoing decline in house prices, Hips will worsen the property market. The Royal Institution of Chartered Surveyors (Rics) said that spreading Hips to smaller properties would drive even more first-time buyers from the market.

Quote:

"Our research shows they knock speculative sellers from the market.

Twenty per cent of people put their homes on the market with no initial intention of selling, but then half of them change their minds when they get a good offer.

Hips will put an end to that and shrink the market
."

The packs cost between £300 and £350 each and are paid for by the seller.

A complete waste of time and money.

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