UK Money News
19th December 2007
Hips 'not being used'
Estate agents across the country are reporting that home information packs (Hips) are not being used to fulfil their purpose, it has been claimed.
Property specialist Savills states that, at the top end of the market, solicitors are not prepared to rely on the searches carried out by other people.
However, recent data from Hyder Consulting reveals that 14 per cent of buyers say a poor Hip report would give them cause to reconsider their purchase.
Lucian Cook, director of research at Savills, said: "My wife is looking to sell her flat and we spoke about Hips with the agents there and they were saying that nobody has asked to see a Hip. I'm not sure that they are necessarily a great deal of help to buyers."
He continued by casting doubt on the level of value buyers actually place on the energy performance certificate.
Further data from Hyder Consulting suggests that 44 per cent of buyers would use the environmental information in Hips to negotiate a discount with their seller.
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