NAEA slams new Hips regulations
Property professionals
6th April 2009
New rules regarding home information packs (Hips) have been criticised by an industry body.
According to the National Association of Estate Agents (NAEA), the regulations, which require people to acquire a Hip before putting their home on the market, will stop homeowners selling their properties.
The NAEA claims that 65 per cent of estate agents believe the new system will act as a deterrent to those thinking about putting their house up for sale, while 89 per cent think the changes will not help buyers.
NAEA chief executive Peter Bolton King said the government is reluctant to admit that Hips are both "pointless and expensive".
"It is extremely worrying that the government is pushing ahead with an ill-judged and unpopular scheme that, in the opinion of UK property professionals, will actually slow the market down," he commented.
The NAEA is the leading professional body for estate agency in the UK and has around 1,000 members.
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