12 Dec

Hips are "a good thing" for market

Hips are "a good thing" for market

The roll out of home information packs (Hips) will prove to be a good thing for the UK property market, it has been predicted.

Of late hips have come in for criticism from the Royal Institution of Chartered Surveyors (Rics), which claims that the packs will cause sellers to delay putting their home on the market and prompt a shortage of housing supply.

However, according to Stephen Ludlow, director of property agent Ludlowthompson, Hips will in fact be a boon for the market since they will bring about greater transparency for buyers and sellers.

He added: "It's a much clearer transaction because you don't have to go through the conveyancing process that perhaps could cause problems later on."

Mr Ludlow's remarks come as Hips will from this week apply to all homes sold in the UK.

The roll out has been staggered with four bedrooms requiring the packs as of last August and three bedroom homes compelled to have a Hip from last September.

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