UK Money News
8th August 2008
Ahipp: Hips don't lie
Home Information Packs (Hips) have delivered real benefits to home buyers and sellers, it has been claimed.
Since their introduction a year ago, the packs have come in for heavy criticism, with estate agents and consumers alike claiming they are an unnecessary expense and have done little to speed up the sales process.
However, according to the Association of Home Information Pack Providers (Ahipp), the value of Hips is proven by the fact that the time taken to exchange of contracts by an average of 12 days.
Furthermore, the price of a local authority search has reduced by an average of 30 per cent - a development that Ahipp claims "never would have taken place had Hips not been introduced".
Paul Broadhead, deputy director general at the Hip provider, said: "Even in their present incomplete form Hips are already having a positive impact on the market. Consumers are benefiting from faster transactions, reduced stress, cheaper searches and better protection."
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