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• REACTION TO RUTH KELLY’S ANNOUNCEMENT THAT HIPS ARE TO BE DELAYED – GOVERNMENT RETREAT
• TODAY’S POLL RESULTS SHOWS 73% DID NOT UNDERSTAND HIPS AND DIDN’T FEEL THEY HAD ENOUGH INFORMATION. 81% SAID THAT HIPS WOULD DELAY THEM IN PUTTING THEIR HOUSE ON THE MARKET

Quote – Expert Opinion: from leading property valuation and information site

Louisa Fletcher, founder of www.propertypriceadvice.co.uk and an independent expert with no vested interest on Home Information Packs today reacted to this afternoon’s Governments announcement that the introduction of HIPS is to be delayed by commenting:

“I’m not entirely surprised that HIP’s have been delayed until the 1st of August, although I think there is going to be more confusion given that it’s a ‘phased start’. The government haven’t done a great job of educating either consumers or those within the property industry - in our recent poll on our website www.propertypriceadvice.co.uk 73% of those who responded said that they still didn’t understand HIP’s, whilst 80% said that they would delay moving house due to the confusion around HIP’s.

Clearly, this is going to have an effect on the housing market – my prediction would be that many with four bedroom homes or larger will now rush to get their property on the market prior to August 1st, to avoid the confusion, giving us one of the busiest summers for the property market, with less people instructing agents come August, causing slow down as we get into the autumn, even though the new version of HIP’s is allegedly going to be more user friendly in for its initial implementation.

However, that fact that the packs are now valid for 12 months, rather than 3, means that the searches contained in them will, I would suggest, be useless after 3 months as they will be out of date, so the buyer will still need to commission their own searches. In fact, I can’t see many conveyancing solicitors accepting them, so it will be interesting to see how many actually do. Added to that, will we really have enough Domestic Energy Assessors as of 1 August, even though they’ve moved back the deadline? It’s good that Ruth Kelly has finally accepted that there won’t be enough though – and this change in implementation proves what many in the industry thought all along.

And even though they now have another 2 months grace, will Estate Agent’s finally get their act together and get ready? Despite the fact they’ve had since before June 2005 to educate themselves about it? All I can say is that HIP’s in their original format with the Home Condition Report were a good idea, designed to inform the buyer and reduce the length of time for each transaction, however now I can’t see they are going to help the process much, other than making us all aware of the green issue“

You might be interested in her prediction for the marker: -

She believes there will now be even more confusion in market. Loads of people with 4 bedroom houses will put their house on the market over the Summer. This will mean a lot of stock and it will become a buyers market. She doesn’t believe there will be a crash but a cooling of prices. Come August 1st – people with large houses will take their property of the market and there will be a shortage of properties and thus, house prices will likely to rise and or sell at the asking price.

Louisa Fletcher founder of www.propertypriceadvice.co.uk

EXCLUSIVE RESULTS OF POLL TODAY – SAMPLE 2000

Exclusive findings of a poll on www.propertypriceadvice.co.uk – announced today

Scaremongers were right in predicting a massive confusion in the market. Critics have said that they will increase costs without cutting the number of home sales which fall through. The move comes as there have been concerns that there are not enough people trained to carry out the controversial environmental checks on the property. The move comes on the heals of the sale of Foxton’s leading to even more disarray: -

Results of WWW.PROPERTYPRICEADVICE.CO.UK Poll today:

1] When asked, “do you understand HIPS and feel you have enough information” 73 % SAID THEY DIDN’T UNDERSTAND AND DIDN’T HAVE ENOUGH INFORMATION.

2] When asked, “is the thought of having to deal with HIPS putting you offer selling your house on the market”. 81% SAID HIPS WOULD PUT THEM OFF SELLING

What is the real situation?

Independent property expert Louisa Fletcher, MD of property site propertypriceadvice.co.uk is available to discuss these and other questions and shares with you her views on this controversial subject.

PRESS CONTACT:

INTERVIEWEE: LOUISA FLETCHER – CONSUMER CHAMPION

WHO: FOUNDER OF WWW.PROPERTYPRICEADVICE.CO.UK

PR:

Murray Harkin
Tel: 0207 100 6070
Email: Murray.harkin@ep-site.com


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