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Conveyancing News: HIPs rollout not supported by RICS |
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Article Published: 20-Aug-2007
The Royal Institution of Chartered Surveyors has criticised the government's decision to extend the use of Home Information Packs on homes with three bedrooms performing a market impact study.
It has stated that early indications suggest there are fewer four-bedroom properties coming for sale since HIPs were rolled out on August 1, directly affecting these properties.
A spokesman for RICS says: "We find it hard to believe that the government is pressing ahead with this policy at such short notice without first conducting a proper market impact study. Preliminary reports suggest a substantial reduction in the number of four bedroom properties coming onto the market. The government has no idea how this will affect the housing market. It has yet to publish the findings from last year's flawed 'dry run' exercise, where the packs were handed out for free. Perhaps the results were not to its liking."
Source: Conveyancing-0800.co.uk
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