No radical revision, but further clarity welcomed

Hamptons International, international residential agents, welcomed the announcement on the Home Information Pack (HIPs) Regulations, although notes that no real changes have been made to what was already expected, following the earlier consultation paper.

With less than nine weeks to go before the introduction of HIPs, Hamptons International acknowledges the announcement is a valuable and much-needed development in helping to clarify understanding around the implementation of HIPs for agents, consumers and HIPs providers.

“There has been a great deal of controversy over the introduction of HIPs to date and no real clarity about what is involved and how the scheme is to be introduced. The revised Regulations are a welcome update and important in helping all involved to obtain a better understanding about exactly what is required,” comments Emma Davies, Operations Director, Hamptons International.

“The revisions that have taken place as part of the HIPs Regulations have not been as radical as many expected and moving forward, it is vital that clear communication continues to take place to ensure market implementation of HIPs is as successful as it can be. We hope yesterday’s announcement has now supplied HIPs providers with the information they need to ensure agents are able to deliver the most effective solution to their customers,” continues Davies.

“In terms of impact on property sales, we would certainly predict that an unusually high number of houses will come to market prior to the introduction of HIPs on 1st June 2007. We then anticipate a reduction in sales activity throughout the summer months, followed by resurgence in the Autumn,” notes Davies.

“Over the next two months, one area we still need further clarification on, is whether there are enough qualified Energy Performance Assessor’s to service market demand. This is something that needs to be addressed to ensure the roll-out of HIPs is as effective as possible,” concludes Davies.