NAEA uneasy over second phase implementation of HIPs

Today the Government announced that Home Information Packs and Energy Performance Certificates will be launched for three bedroom properties in England and Wales from Monday 10th September 2007.

Peter Bolton King, Chief Executive at the National Association of Estate Agents (NAEA), comments: “The NAEA has consistently expressed concerns regarding the implementation of HIPS as there still remains a shortfall of qualified energy assessors taking the exams. We did anticipate the second phase to be in the Autumn, but with this announcement it now appears that the Government may try and include all dwellings by the end of the year! This will continue to place uncertainty into an already delicate residential market.

“The NAEA will be closely monitoring its impact on the market in England and Wales.

“The current housing climate remains unsettled at this moment in time. House owners and hunters are already feeling the pressure due to continuing interest rate rises which is placing increasing strains on their wallets. Also, reactions to the instability being experienced in the world's stock markets cannot but continue the current uncertainties. We do not believe that today’s announcement will assist in bringing about stability; to the contrary, it will hinder it."