HIPs distort housing market, claims report
Estate agents claim that the sale of four bedroom homes has been depressed by the introduction of Home Information Packs (HIPs).
The packs, introduced at the start of August for houses for sale in England and Wales with four or more bedrooms, are being blamed for a slump by the property website Rightmove.
Its September House Price Index said there had been a 41% fall in the number of four bedroom homes coming on to the market, down from an average of 40,000 a month to 23,400.
The average asking prices were also down by 2.6% (around £6,298) because of the market distortion created by HIPs.
