Most buyers and sellers have heard of a HIP, but over 35 per cent of the general public thought that the abbreviation stood for Homeland Immigration Policy. Only 27 per cent correctly identified it as a Home Information Pack.
People actually buying and selling property at the moment were much better informed though, with 80 per cent of buyers and 94 per cent of sellers picking the correct answer.
However, there is widespread confusion over what a HIP will contain. For example, three fifths of buyers expect to receive at least a home condition report, and two fifths expect a full structural survey.
Most people correctly picked the energy performance certificate, but less than half expected evidence of title or a search, the two key legal documents in the pack.
Warren Bright, chief executive of propertyfinder.com, said: “The level of ignorance in the general public is astonishing given the publicity HIPs have had over the last year, but at least most buyers and sellers have heard of them, even though they have little clue of what will actually be in the pack.”
