The Government did another dramatic U turn recently when we saw the delay of Home Information Packs. Ruth Kelly announced that HIPS would be delayed until the start of August and would even then be limited to 4 bed roomed houses until enough energy assessors were trained to deal with the whole market. However the assessors that have trained are fuming that it may all be for nothing as this climb down may signal the total scrapping of the scheme. Many have left well paid careers and face another few months of not being able to work. More interestingly is the effects that HIPS will have on the housing market. Agents are expecting lots of 3 bed roomed properties on the market with the 4th bedroom marketed as a study or "upstairs lounge" to avoid the HIP on 4 bed roomed properties.
People selling their houses who put them on the market before June the 1st to avoid hips may now withdraw their property from sale as they can now sell at their leisure. Agents who saw their windows full of properties for sale are now expecting many to be withdrawn due to the u-turn and as a result have lost both time and money in the process. Buyers who were coming across sellers anxious to sell their house before they needed to get a HIP done are now face with sellers under less pressure to sell and maybe less properties to choose from.
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