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HIPs effect being felt

Meanwhile, the housing market is continuing to be adversely affected by Home Information Packs (HIPs), according to the National Association of Estate Agents (NAEA).

The NAEA said many potential sellers of houses with three or more bedrooms were deciding against selling because they didn't want the additional costs of the HIP.

A spokesman said:

"I have heard of many examples where potential sellers have decided against putting their property up for sale because they do not want to risk wasting £300 or indeed much more, if they decide not to sell.

"It has been correctly stated previously that many sellers decided to ‘beat the HIP’ by marketing their property before August 1st 2007. It would therefore be reasonable to think that there would be a lull for a few months thereafter."

The study found 76% of estate agents wanted to see HIPs scrapped and replaced with an energy certificate for all sizes of homes.

 
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