day of destiny arrives for hipsIt's been a long time coming, but the government has today finally provided a date for the full-scale rollout of Home information packs (Hips).

From December 14th all properties in England and Wales will require a Hip as part of the home-selling process, bringing to an end a staggered implementation that saw Hips first introduced for homes with at least four bedrooms on August 1st.

However, the packs' critics have already spoken out against the decision, with the Royal Institution of Chartered Surveyors (Rics) pointing to member surveys showing that Hips have slowed an already stagnating property market still further by limiting the number of properties with three or more bedrooms that are coming on to the market.

"Lack of smaller properties for purchase will force first-time-buyers to remain in the lettings market where rents are already climbing at the fastest pace in over eight years," said Jeremy Leaf, Rics spokesperson.

"If the Housing Minister genuinely wants to improve the plight of first-time-buyers, she should not continue with this flawed policy," Mr Leaf added.

The National Association of Estate Agents (NAEA) has also criticised Hips' role in the market in recent weeks.


The Mortgage Provider Online