The number of three or more bedroom homes available for sale has fallen sharply since the introduction of home information packs , a survey showed yesterday.
The study, by the Royal Institute of Chartered Surveyors, showed a 37% drop in the number of properties put on the market which needed a pack last month compared with the same period a year ago. This trend continued from August, when, the RICS said, the number of people looking to sell four-bedroom homes dropped by 51%
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As of today we now have some subtle changes to the Home Information Pack legislation that could bring added benefit to the exisiting HIP via some modifications including the Property Information Questionnaire (PIQ) which is now a required document.
From the 6th April 2009 the Home Information Pack regulations will change to include:
Introduction of the new [...]
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Home Information Packs (HIPS) are now a year old this week. The past year certainly has been controversial at times for HIP packs as the legislation has been rolled out; which lets be honest was to be expected. Home information packs have been reported upon as often is the case in the UK press with [...] Read Full Story
Tesco has pulled its property website but, according to the Times, they are thinking about launching a full estate agency service and there is no doubt that it will be cheap and the chances are they will follow the example of Asda and offer HIPS for free . Watch this space - they obviously want the seven out of eight pounds that are not spent at Tesco! Read Full Story
The Government today announced a package of measures to help ensure consumers are seeing the vital information in Home Information Packs and are receiving a higher standard of service in the home buying and selling process. Read Home Information Pack News release here. Read Full Story
Estate agents could easily use a favourable EPC to sell one home over another. “This house will be £500 per month cheaper to run per year than the next is a selling point” will persuade some buyers .
The problem is that home owners are let down by estate agents that do nothing more than open the door for a prospective buyer.
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A LEADING estate agency claims that the advent of Home Information Packs has coincided with a 15 per cent drop in property stock levels across the UK.
Hamptons International say figures from their research department show that stock levels of new instructions fell by 24 per cent in London and six per cent elsewhere, when comparing summer this year to spring.
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It has been reported that the implementation of HIPS (Home Information Packs) has suffered another setback after it became apparent that some mortgage lenders started to refuse critical parts of the info packs. Industry commentators stated that homebuyers would need to pay £200 for their own local authority searches because those provided in the home information pack cannot be trusted. Read Full Story
The Property Information Questionnaire (PIQ) will be shortly rolled out after the draft version was produced and the related consultation was completed and added to the legislation.
There does not seem to have been vast modification to the document and legislation since we published the last article regarding the Property Information Questionnaire in August. However, the [...]
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Home Information Packs (HIP) are becoming more widely accepted since the first date of implementation. However, with the Home Information Pack’s existence also comes some fallacies and myths which have been attached to them. Due to this we have decided to look at a selection of some commonly held misconceptions and some of the more [...] Read Full Story
