Having been introduced for three and four-bedroom properties, the further roll-out of the packs has been postponed to allow for a further assessment of the market. However, from the outset, HIPs have been lambasted as a major hindrance.
Paul Smith, chief executive of Spicerhaart, said: “HIPs are an absolute waste of time, viewed overwhelmingly as an irrelevance and an unnecessary cost. Our figures show a complete rejection by buyers. The government should scrap HIPs immediately and the whole debacle should be written off as a mistake. This should help restore consumer confidence.
If the government is hell-bent in pursuing HIPs, it must make a decision to extend them to all properties to stop the imbalance.”
The National Association of Estate Agents (NAEA) claimed that the government was misleading the industry in its version of events, which suggested that HIPs had benefited the market.
Stewart Lilly, president of NAEA, said: “The implied message is that everything since the introduction of HIPs for three and four-bedroom properties is wonderful and rosy. Our members are reporting to us that this is not the case.”
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