Home Information Packs – Restricting House Sales?

According to the property website Rightmove, there was a 41% slump in the number of four bed houses for sale during August when Home Information Packs were introduced.

Home Information Packs (HIPs) were made compulsory for four bed houses from August 1st 2007 and were subsequently extended to include three bedroom houses from September 10th 2007. In the last week of July, prior to their introduction, there was a surge of properties coming onto the market, with a sudden slowdown thereafter. This is reflected in the figures which show that there were 40,000 houses with four or more bedrooms coming onto the market prior to August. The corresponding figure for August, however, was just 23,400, while in the first week of September there were only 4,159 such properties on offer, compared to a normal weekly average of about 10,000.

Danny Luke of Quick Move commented: “The figures do suggest that HIPs are affecting the housing market. We are receiving many enquiries from people who want to sell their houses privately to avoid the cost, hassle and delays in compiling a HIP.”

As a private property buyer, Quick Move Now does not require home owners to have a Home Information Pack. With HIPs costing up to £500 and taking weeks to produce, Quick Move Now’s service can save home owners money and help them to move quicker.

Further information about Quick Move Now’s service can be found at: http://www.quickmovenow.com/homeinformationpacks.html.


About Quick Move Now
Quick Move Now (http://www.quickmovenow.com) is a house buying company that began trading in 1998 and has developed rapidly, establishing Quick Move Now as the leading house sale company in the UK. Annually Quick Move Now help over 400 people move home. Quick Move Now works closely with both individuals and companies, meeting the needs of everyone and every situation.

For further information, please contact:

Danny Luke
Quick Move Now
enquiries@quickmovenow.com
Tel: 0800 068 3366