October 2007
HIPs 'not to blame for drop'
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.
But the Association of Home Information Pack Providers say that any suggestions
that the launch of HIPs has distorted the market are ‘totally unfounded’.
AHIPP director general Mike Ockenden said: “A lack of consumer confidence
resulting from the recent turmoil in the market cannot be attributed to HIPs
and it is short-sighted to ignore the other contributing factors.”
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